Arizona State Retirement System trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,495,565 shares of the information services provider’s stock after selling 15,753 shares during the period. Alphabet accounts for approximately 1.4% of Arizona State Retirement System’s portfolio, making the stock its 6th largest holding. Arizona State Retirement System’s holdings in Alphabet were worth $155,539,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Oak Thistle LLC bought a new position in Alphabet during the first quarter valued at $640,000. Heirloom Wealth Management lifted its position in shares of Alphabet by 18.5% during the first quarter. Heirloom Wealth Management now owns 127,381 shares of the information services provider’s stock worth $13,248,000 after acquiring an additional 19,908 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Alphabet by 41.4% during the first quarter. Ballentine Partners LLC now owns 84,338 shares of the information services provider’s stock worth $8,771,000 after acquiring an additional 24,683 shares in the last quarter. Mastrapasqua Asset Management Inc. lifted its position in shares of Alphabet by 0.8% during the first quarter. Mastrapasqua Asset Management Inc. now owns 165,483 shares of the information services provider’s stock worth $17,210,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in shares of Alphabet by 1.6% during the first quarter. Sumitomo Life Insurance Co. now owns 92,605 shares of the information services provider’s stock worth $9,631,000 after acquiring an additional 1,432 shares in the last quarter. 27.17% of the stock is owned by institutional investors.
Alphabet Stock Down 0.5 %
Shares of NASDAQ:GOOG opened at $125.06 on Tuesday. The stock’s 50-day moving average price is $122.02 and its 200-day moving average price is $107.19. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. The stock has a market capitalization of $1.59 trillion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 1.61 and a beta of 1.07. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.
Insider Buying and Selling
In related news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares of the company’s stock, valued at $626,622.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares of the company’s stock, valued at $626,622.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. Insiders have sold 864,122 shares of company stock valued at $29,751,580 over the last ninety days. 12.99% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on GOOG shares. UBS Group increased their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Robert W. Baird increased their target price on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft increased their price objective on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Oppenheimer lowered their price objective on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Finally, Raymond James increased their price objective on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.14.
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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