Alphabet Inc. $GOOG is New York State Teachers Retirement System’s 10th Largest Position

New York State Teachers Retirement System cut its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,004,720 shares of the information services provider’s stock after selling 6,099 shares during the quarter. Alphabet accounts for 1.5% of New York State Teachers Retirement System’s portfolio, making the stock its 10th largest position. New York State Teachers Retirement System’s holdings in Alphabet were worth $710,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. ACT Advisors LLC. raised its holdings in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares in the last quarter. LongView Wealth Management raised its holdings in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares in the last quarter. Kooman & Associates raised its holdings in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC raised its holdings in Alphabet by 3.4% in the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock valued at $309,000 after acquiring an additional 57 shares in the last quarter. Finally, Brueske Advisory Services LLC raised its holdings in Alphabet by 2.7% in the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock valued at $389,000 after acquiring an additional 58 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Mizuho raised shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group increased their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, Robert W. Baird increased their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $244.68.

Alphabet Stock Up 0.8%

GOOG stock opened at $253.79 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.58. The firm’s 50-day simple moving average is $232.18 and its 200 day simple moving average is $192.97. The stock has a market cap of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the company earned $1.89 EPS. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,372 shares of company stock worth $55,110,740. 12.99% of the stock is owned by company 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.