Alphabet Inc. (NASDAQ:GOOG) is New York State Common Retirement Fund’s 8th Largest Position

New York State Common Retirement Fund decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.8% in the first quarter, Holdings Channel reports. The institutional investor owned 6,414,343 shares of the information services provider’s stock after selling 320,909 shares during the quarter. Alphabet accounts for about 1.5% of New York State Common Retirement Fund’s holdings, making the stock its 8th biggest position. New York State Common Retirement Fund’s holdings in Alphabet were worth $1,002,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GOOG. Hutchinson Capital Management CA boosted its stake in shares of Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after buying an additional 54 shares during the period. Retirement Planning Co of New England Inc. boosted its stake in shares of Alphabet by 0.4% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock valued at $3,043,000 after buying an additional 56 shares during the period. Concentrum Wealth Management boosted its stake in shares of Alphabet by 0.3% during the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock valued at $3,300,000 after buying an additional 57 shares during the period. JDM Financial Group LLC boosted its stake in shares of Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after buying an additional 57 shares during the period. Finally, Kidder Stephen W boosted its stake in shares of Alphabet by 1.6% during the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider’s stock valued at $687,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares of the company’s stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.5%

Shares of NASDAQ GOOG opened at $181.31 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market cap of $2.20 trillion, a PE ratio of 20.21, a P/E/G ratio of 1.27 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $171.50 and a two-hundred day moving average of $174.92.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is 9.36%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James Financial reissued an “outperform” rating on shares of Alphabet in a research note on Wednesday. Barclays restated a “buy” rating on shares of Alphabet in a report on Wednesday. Susquehanna restated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer restated an “outperform” rating and set a $220.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $207.13.

Alphabet Company 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.