State of New Jersey Common Pension Fund D Sells 3,269 Shares of Alphabet Inc. $GOOGL

State of New Jersey Common Pension Fund D lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,963,042 shares of the information services provider’s stock after selling 3,269 shares during the period. Alphabet makes up about 1.3% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 11th biggest position. State of New Jersey Common Pension Fund D’s holdings in Alphabet were worth $345,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Rovin Capital UT ADV increased its holdings in shares of Alphabet by 9.4% in the first quarter. Rovin Capital UT ADV now owns 10,843 shares of the information services provider’s stock worth $1,677,000 after purchasing an additional 933 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Alphabet by 1.2% in the first quarter. Vontobel Holding Ltd. now owns 2,908,021 shares of the information services provider’s stock worth $449,696,000 after purchasing an additional 34,481 shares during the period. Finally, Elevate Capital Advisors LLC increased its holdings in shares of Alphabet by 1.9% in the first quarter. Elevate Capital Advisors LLC now owns 25,619 shares of the information services provider’s stock worth $3,962,000 after purchasing an additional 483 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.2%

Shares of NASDAQ:GOOGL opened at $277.54 on Wednesday. The stock’s 50-day moving average price is $246.91 and its 200-day moving average price is $202.13. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The stock has a market capitalization of $3.36 trillion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 190,896 shares of company stock worth $45,092,175. 11.64% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. New Street Research raised their price objective on shares of Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Mizuho set a $325.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer raised their price objective on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. DZ Bank restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Barclays restated an “overweight” rating and set a $315.00 price objective (up previously from $250.00) on shares of Alphabet in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.09.

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.