Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 holding. Retirement Systems of Alabama’s holdings in Alphabet were worth $313,223,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOOGL. RWQ Financial Management Services Inc. boosted its holdings in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Robbins Farley boosted its holdings in Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after acquiring an additional 118 shares during the last quarter. Quantum Financial Advisors LLC boosted its holdings in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the last quarter. Colton Groome Financial Advisors LLC boosted its holdings in Alphabet by 3.8% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after acquiring an additional 100 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after acquiring an additional 104,366 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,129 shares of company stock worth $40,382,765. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOGL shares. UBS Group lifted their price objective on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Morgan Stanley boosted their price target on shares of Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Barclays boosted their price target on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Loop Capital boosted their price target on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their price target on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Alphabet Stock Up 0.5 %

Shares of NASDAQ GOOGL opened at $168.10 on Tuesday. Alphabet Inc. has a one year low of $105.16 and a one year high of $174.71. 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 firm’s 50 day simple moving average is $150.75 and its two-hundred day simple moving average is $142.58. The stock has a market capitalization of $2.08 trillion, a P/E ratio of 25.78, a PEG ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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 net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period last year, the business earned $1.17 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced 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. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, June 10th.

Alphabet 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.