State of New Jersey Common Pension Fund D cut its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 660,000 shares of the information services provider’s stock after selling 30,000 shares during the quarter. Alphabet makes up about 2.5% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 3rd biggest position. State of New Jersey Common Pension Fund D owned about 0.10% of Alphabet worth $633,012,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Aperio Group LLC raised its holdings in Alphabet by 7.1% during the third quarter. Aperio Group LLC now owns 116,337 shares of the information services provider’s stock valued at $111,580,000 after acquiring an additional 7,688 shares during the period. Clear Harbor Asset Management LLC increased its holdings in shares of Alphabet by 6.1% in the third quarter. Clear Harbor Asset Management LLC now owns 4,398 shares of the information services provider’s stock worth $4,218,000 after purchasing an additional 253 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Alphabet by 1.9% in the third quarter. Trust Co. of Vermont now owns 16,204 shares of the information services provider’s stock worth $15,542,000 after purchasing an additional 297 shares during the last quarter. Klingman & Associates LLC bought a new stake in shares of Alphabet in the third quarter worth about $200,000. Finally, REDW Stanley Financial Advisors LLC bought a new stake in shares of Alphabet in the third quarter worth about $200,000. 34.63% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on GOOG. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,084.59 target price on the stock in a report on Wednesday, November 29th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Robert W. Baird reaffirmed an “outperform” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,046.52.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. Alphabet’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.06 earnings per share.
In other news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $958.40, for a total transaction of $3,833,600.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director L John Doerr sold 12,236 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the transaction, the director now directly owns 3,485 shares in the company, valued at $3,560,171.45. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock valued at $37,430,220 in the last three months. 13.92% of the stock is currently owned by insiders.
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Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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