Louisiana State Employees Retirement System trimmed its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 566,500 shares of the information services provider’s stock after selling 8,700 shares during the quarter. Alphabet comprises 1.5% of Louisiana State Employees Retirement System’s portfolio, making the stock its 7th largest position. Louisiana State Employees Retirement System’s holdings in Alphabet were worth $58,916,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Corrado Advisors LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $27,000. Gould Capital LLC grew its stake in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after buying an additional 301 shares during the period. Essex Investment Management Co. LLC grew its stake in Alphabet by 1,900.0% during the third quarter. Essex Investment Management Co. LLC now owns 320 shares of the information services provider’s stock worth $31,000 after buying an additional 304 shares during the period. My Personal CFO LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $34,000. Finally, Milestone Wealth LLC grew its stake in Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after buying an additional 361 shares during the period. 27.17% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on GOOG shares. Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Oppenheimer reduced their target price on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Robert W. Baird boosted their target price on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Finally, UBS Group boosted their target price on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.80.
Alphabet Stock Down 0.3 %
Alphabet (NASDAQ:GOOG – Free Report) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 240 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $120.02, for a total transaction of $28,804.80. Following the completion of the transaction, the director now owns 13,040 shares in the company, valued at $1,565,060.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 240 shares of the company’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $120.02, for a total transaction of $28,804.80. Following the transaction, the director now owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 816,599 shares of company stock worth $24,142,177. Insiders own 12.99% of the company’s stock.
Alphabet 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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