State of Alaska Department of Revenue Sells 61,730 Shares of Alphabet Inc. (NASDAQ:GOOG)

State of Alaska Department of Revenue lowered its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 743,230 shares of the information services provider’s stock after selling 61,730 shares during the period. Alphabet accounts for 1.2% of State of Alaska Department of Revenue’s holdings, making the stock its 8th largest holding. State of Alaska Department of Revenue’s holdings in Alphabet were worth $104,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Tandem Wealth Advisors LLC bought a new position in shares of Alphabet during the third quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet during the fourth quarter valued at $26,000. HWG Holdings LP bought a new position in shares of Alphabet during the second quarter valued at $26,000. Intrepid Capital Management Inc. bought a new position in shares of Alphabet during the second quarter valued at $31,000. Finally, Buck Wealth Strategies LLC bought a new position in shares of Alphabet during the third quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GOOG shares. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $146.33.

View Our Latest Analysis on Alphabet

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $140.11, for a total value of $3,152,475.00. Following the completion of the sale, the chief executive officer now directly owns 2,422,691 shares in the company, valued at $339,443,236.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $140.11, for a total transaction of $3,152,475.00. Following the transaction, the chief executive officer now owns 2,422,691 shares of the company’s stock, valued at $339,443,236.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,312 shares of company stock worth $37,268,315. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.2 %

NASDAQ:GOOG opened at $152.26 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.41 and a beta of 1.05. The firm has a fifty day simple moving average of $144.98 and a two-hundred day simple moving average of $139.58. Alphabet Inc. has a 12 month low of $100.29 and a 12 month high of $155.20.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the company posted $1.05 earnings per share. Analysts expect that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

About Alphabet

(Free Report)

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, devices, 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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