State of New Jersey Common Pension Fund D Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

State of New Jersey Common Pension Fund D raised its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,890.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,303,730 shares of the information services provider’s stock after acquiring an additional 3,137,743 shares during the period. Alphabet comprises 1.3% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 8th biggest holding. State of New Jersey Common Pension Fund D’s holdings in Alphabet were worth $317,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DC Investments Management LLC bought a new position in Alphabet in the first quarter valued at about $115,000. Guardian Wealth Management Inc. bought a new stake in shares of Alphabet during the first quarter worth about $184,000. Turim 21 Investimentos Ltda. grew its holdings in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares during the last quarter. OneAscent Financial Services LLC bought a new stake in shares of Alphabet during the second quarter worth about $203,000. Finally, Aspireon Wealth Advisors bought a new stake in shares of Alphabet during the second quarter worth about $212,000. Institutional investors own 28.69% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the stock in a transaction dated Wednesday, November 9th. The shares were bought at an average cost of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the transaction, the insider now directly owns 1,294,527 shares of the company’s stock, valued at $44,790,634.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 182,312 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was acquired at an average price of $34.60 per share, for a total transaction of $6,307,995.20. Following the completion of the acquisition, the insider now owns 1,294,527 shares of the company’s stock, valued at approximately $44,790,634.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOG. Cowen reduced their price target on Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Sanford C. Bernstein set a $120.00 price objective on Alphabet in a research note on Thursday, January 12th. The Goldman Sachs Group set a $135.00 price objective on Alphabet in a research note on Friday, November 18th. Raymond James cut their price objective on Alphabet from $120.00 to $116.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, October 21st. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.40.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $99.21 on Wednesday. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The stock’s 50 day moving average is $93.63 and its 200-day moving average is $102.00. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last issued its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same period in the previous year, the company earned $1.40 earnings per share. Alphabet’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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