Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,290,913 shares of the information services provider’s stock after selling 47,749 shares during the quarter. Alphabet makes up approximately 2.1% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 5th biggest position. Teachers Retirement System of The State of Kentucky’s holdings in Alphabet were worth $235,140,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new stake in Alphabet during the second quarter worth approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.1 %

Shares of GOOGL opened at $162.08 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The stock has a market cap of $2.00 trillion, a PE ratio of 24.86, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $161.62 and its 200-day moving average price is $167.57.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets cut their price target on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Evercore ISI dropped their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, September 25th. Finally, Tigress Financial increased their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.95.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock worth $35,644,136 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.