Maryland State Retirement & Pension System decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 418,345 shares of the information services provider’s stock after selling 578 shares during the quarter. Alphabet accounts for approximately 1.1% of Maryland State Retirement & Pension System’s holdings, making the stock its 8th largest position. Maryland State Retirement & Pension System’s holdings in Alphabet were worth $37,120,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Advisors Network Inc. lifted its stake in Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. raised its stake in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares in the last quarter. West Michigan Advisors LLC grew its stake in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after buying an additional 9 shares during the last quarter. Somerville Kurt F boosted its stake in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its stake in Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.
Alphabet Price Performance
Shares of NASDAQ:GOOG opened at $106.06 on Friday. The company has a market cap of $1.36 trillion, a P/E ratio of 23.30, a P/E/G ratio of 1.44 and a beta of 1.09. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $144.16. The business has a fifty day simple moving average of $97.08 and a 200-day simple moving average of $96.59.
Insider Activity
In other news, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the sale, the director now owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the transaction, the director now directly owns 144,740 shares in the company, valued at approximately $14,474,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,245 shares of company stock worth $7,174,078. 12.99% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada set a $130.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. Bank of America increased their price objective on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Piper Sandler cut their target price on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price target on Alphabet in a research report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a research report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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