Alphabet Inc. (NASDAQ:GOOGL) Position Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 2,242,272 shares of the information services provider’s stock after selling 37,237 shares during the quarter. Alphabet comprises approximately 1.3% of Retirement Systems of Alabama’s investment portfolio, making the stock its 7th largest position. Retirement Systems of Alabama’s holdings in Alphabet were worth $313,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of GOOGL. Meridian Wealth Partners LLC boosted its holdings in shares of Alphabet by 6.9% in the 4th quarter. Meridian Wealth Partners LLC now owns 8,867 shares of the information services provider’s stock valued at $1,239,000 after acquiring an additional 572 shares during the last quarter. Magnus Financial Group LLC boosted its stake in shares of Alphabet by 2.1% during the 4th quarter. Magnus Financial Group LLC now owns 28,659 shares of the information services provider’s stock worth $4,003,000 after acquiring an additional 593 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in Alphabet by 3.3% in the 4th quarter. Convergence Investment Partners LLC now owns 20,356 shares of the information services provider’s stock worth $2,844,000 after purchasing an additional 647 shares during the period. Little House Capital LLC boosted its position in Alphabet by 2.7% during the fourth quarter. Little House Capital LLC now owns 43,325 shares of the information services provider’s stock worth $6,052,000 after purchasing an additional 1,145 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its holdings in Alphabet by 4.2% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 4,551 shares of the information services provider’s stock valued at $652,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group increased their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Mizuho raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wedbush lifted their price objective on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Susquehanna lifted their price objective on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a report on Monday, April 29th. Finally, Robert W. Baird lifted their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Monday, February 12th. The stock was sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the transaction, the director now directly owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock valued at $40,382,765 in the last three months. 0.88% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOGL stock opened at $168.10 on Tuesday. Alphabet Inc. has a 1 year low of $105.16 and a 1 year high of $174.71. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 25.78, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The business’s 50-day moving average is $150.75 and its two-hundred day moving average is $142.58.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the business posted $1.17 EPS. Analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%.

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