State of New Jersey Common Pension Fund D Acquires 1,203 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 26th, 2023

State of New Jersey Common Pension Fund D raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,514,874 shares of the information services provider’s stock after acquiring an additional 1,203 shares during the period. Alphabet accounts for 1.2% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 6th largest position. State of New Jersey Common Pension Fund D’s holdings in Alphabet were worth $310,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. VitalStone Financial LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $25,000. IAG Wealth Partners LLC lifted its position in shares of Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares during the period. Artemis Wealth Advisors LLC lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the period. Laurel Wealth Planning LLC lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the period. Finally, Coston McIsaac & Partners lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after acquiring an additional 304 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,539 shares of company stock worth $10,209,164. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Down 2.0 %

Shares of Alphabet stock opened at $103.85 on Wednesday. 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 12 month low of $83.34 and a 12 month high of $122.85. The business has a fifty day simple moving average of $99.56 and a 200 day simple moving average of $96.44. The stock has a market cap of $1.33 trillion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 1.46 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. Research analysts predict that Alphabet Inc. will post 5.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOGL. UBS Group raised their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Alphabet in a research report on Monday, April 3rd. Stifel Nicolaus initiated coverage on Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 target price for the company. Sanford C. Bernstein cut their target price on Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 20th. Finally, Credit Suisse Group cut their target price on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.30.

Alphabet Profile

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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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Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Get Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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