Maryland State Retirement & Pension System increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,236 shares of the information services provider’s stock after buying an additional 181 shares during the period. Alphabet comprises about 1.7% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 6th largest position. Maryland State Retirement & Pension System’s holdings in Alphabet were worth $64,627,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Morling Financial Advisors LLC bought a new stake in Alphabet in the fourth quarter worth about $29,000. West Bancorporation Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $29,000. Wealthgate Family Office LLC bought a new stake in Alphabet during the fourth quarter worth approximately $32,000. NS Partners Ltd acquired a new position in shares of Alphabet during the fourth quarter worth approximately $41,000. Finally, Schubert & Co acquired a new position in shares of Alphabet during the fourth quarter worth approximately $43,000. 41.70% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ GOOGL opened at $2,229.75 on Thursday. Alphabet Inc. has a twelve month low of $2,037.69 and a twelve month high of $3,030.93. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $2,300.45 and a 200-day simple moving average of $2,598.40. The stock has a market capitalization of $1.47 trillion, a PE ratio of 20.17, a PEG ratio of 1.05 and a beta of 1.13.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The business had revenue of $56.02 billion for the quarter, compared to analysts’ expectations of $56.17 billion. During the same period last year, the firm earned $26.29 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 110.83 earnings per share for the current year.
In other Alphabet news, Director Brin Sergey sold 2,639 shares of the stock in a transaction on Monday, April 11th. The stock was sold at an average price of $2,632.28, for a total transaction of $6,946,586.92. Following the transaction, the director now owns 18,599,842 shares of the company’s stock, valued at approximately $48,959,992,099.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. Insiders sold a total of 550,357 shares of company stock worth $21,855,978 in the last 90 days. 11.44% of the stock is currently owned by insiders.
Several analysts have recently commented on the company. KeyCorp decreased their target price on Alphabet from $3,400.00 to $3,075.00 and set an “overweight” rating on the stock in a report on Wednesday, April 20th. Rosenblatt Securities began coverage on Alphabet in a research report on Tuesday, April 19th. They issued a “buy” rating and a $4,183.00 target price on the stock. Piper Sandler dropped their target price on Alphabet from $2,900.00 to $2,775.00 and set an “overweight” rating on the stock in a research report on Thursday, June 2nd. Canaccord Genuity Group decreased their price target on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a research note on Wednesday, April 27th. Finally, JMP Securities reiterated a “buy” rating and set a $3,300.00 target price on shares of Alphabet in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $3,297.86.
Alphabet Profile (Get Rating)
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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