State of Alaska Department of Revenue Sells 3,934 Shares of Alphabet Inc. (NASDAQ:GOOGL)

State of Alaska Department of Revenue lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 7.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 52,422 shares of the information services provider’s stock after selling 3,934 shares during the quarter. Alphabet accounts for about 1.4% of State of Alaska Department of Revenue’s holdings, making the stock its 4th biggest holding. State of Alaska Department of Revenue’s holdings in Alphabet were worth $114,239,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GOOGL. Dravo Bay LLC acquired a new position in Alphabet in the 1st quarter worth approximately $28,000. Financial Enhancement Group LLC acquired a new position in Alphabet in the 1st quarter worth approximately $31,000. Wealthgate Family Office LLC acquired a new position in Alphabet in the 4th quarter worth approximately $32,000. Verity Asset Management Inc. increased its holdings in Alphabet by 536,206.4% in the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock worth $39,000 after buying an additional 589,827 shares during the period. Finally, Advocacy Wealth Management Services LLC boosted its position in Alphabet by 72.7% in the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock worth $41,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 1.88% of the company’s stock.

Insider Buying and Selling

In related news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at approximately $3,484,117.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,536 shares of company stock valued at $15,729,998. 11.44% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. William Blair restated an “outperform” rating on shares of Alphabet in a research report on Wednesday, July 27th. Morgan Stanley upped their price objective on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 27th. Tigress Financial upped their price objective on Alphabet from $183.00 to $186.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 3rd. UBS Group lowered their price objective on Alphabet from $133.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Finally, Oppenheimer lowered their price objective on Alphabet to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.41.

Alphabet Stock Down 0.1 %

Shares of NASDAQ:GOOGL opened at $102.80 on Monday. The business has a 50-day moving average price of $112.93 and a 200 day moving average price of $118.84. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09. Alphabet Inc. has a 12-month low of $100.94 and a 12-month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $57.47 billion for the quarter, compared to analyst estimates of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the business posted $27.26 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 5.21 EPS for the current year.

Alphabet Profile

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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.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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