New York State Common Retirement Fund boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,658,663 shares of the information services provider’s stock after purchasing an additional 235,599 shares during the quarter. Alphabet comprises approximately 1.4% of New York State Common Retirement Fund’s investment portfolio, making the stock its 4th largest position. New York State Common Retirement Fund owned about 0.09% of Alphabet worth $1,028,644,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. VitalStone Financial LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $25,000. IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares during the period. Artemis Wealth Advisors LLC increased its holdings in shares of Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 266 shares during the period. Laurel Wealth Planning LLC increased its holdings in shares of Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares during the period. Finally, Coston McIsaac & Partners boosted its stake in shares of Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares in the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold 112,192 shares of company stock valued at $11,373,417 in the last three months. 11.44% of the stock is owned by corporate insiders.
Alphabet Trading Down 1.4 %
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the firm posted $1.53 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.11 earnings per share for the current year.
Analysts Set New Price Targets
GOOGL has been the topic of a number of analyst reports. Barclays lifted their price target on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. JMP Securities restated a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research report on Thursday, March 16th. New Street Research initiated coverage on Alphabet in a research report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. BNP Paribas upgraded Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a research note on Friday, March 17th. Finally, Morgan Stanley upped their price target on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $131.17.
About Alphabet
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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