Maryland State Retirement & Pension System cut its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 413,649 shares of the information services provider’s stock after selling 4,696 shares during the period. Alphabet comprises about 1.0% of Maryland State Retirement & Pension System’s holdings, making the stock its 14th largest holding. Maryland State Retirement & Pension System’s holdings in Alphabet were worth $43,019,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. DC Investments Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $184,000. Turim 21 Investimentos Ltda. boosted its position in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new position in shares of Alphabet during the 1st quarter worth about $279,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $294,000. 27.17% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
GOOG opened at $122.63 on Thursday. The stock’s 50 day simple moving average is $119.72 and its 200 day simple moving average is $105.25. The stock has a market cap of $1.56 trillion, a P/E ratio of 27.31, a P/E/G ratio of 1.54 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55.
Analyst Ratings Changes
Several research analysts have recently issued reports on GOOG shares. Oppenheimer lowered their price objective on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. UBS Group boosted their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Robert W. Baird boosted their target price on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Finally, Raymond James boosted their target price on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.80.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the sale, the chief accounting officer now owns 25,937 shares in the company, valued at approximately $2,788,486.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the sale, 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 is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 832,682 shares of company stock worth $26,077,123. 12.99% of the stock is owned by insiders.
About Alphabet
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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