New York State Teachers Retirement System Sells 2,078 Shares of Alphabet Inc. $GOOGL

New York State Teachers Retirement System lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,944,564 shares of the information services provider’s stock after selling 2,078 shares during the quarter. Alphabet comprises about 1.8% of New York State Teachers Retirement System’s investment portfolio, making the stock its 7th largest position. New York State Teachers Retirement System’s holdings in Alphabet were worth $871,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Nuveen LLC acquired a new position in Alphabet in the first quarter worth $4,317,606,000. Vanguard Group Inc. boosted its stake in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Amundi raised its position in shares of Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. raised its position in shares of Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $259.92 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.14 trillion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $261.68. The stock has a 50-day moving average price of $236.72 and a two-hundred day moving average price of $195.85.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Moffett Nathanson boosted their target price on Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Jefferies Financial Group boosted their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. BNP Paribas Exane boosted their target price on Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Bank of America boosted their target price on Alphabet from $252.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Finally, Tigress Financial upped their price objective on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $263.55.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is owned by corporate insiders.

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.