Alphabet Inc. (NASDAQ:GOOG) is NJ State Employees Deferred Compensation Plan’s 4th Largest Position

NJ State Employees Deferred Compensation Plan grew its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,900.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 127,700 shares of the information services provider’s stock after buying an additional 121,315 shares during the period. Alphabet accounts for approximately 2.1% of NJ State Employees Deferred Compensation Plan’s portfolio, making the stock its 4th largest position. NJ State Employees Deferred Compensation Plan’s holdings in Alphabet were worth $12,278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Financial Advisors Network Inc. increased its holdings in Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after buying an additional 7 shares during the period. Turim 21 Investimentos Ltda. increased its holdings in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares during the period. McAdam LLC increased its holdings in Alphabet by 2.8% in the 2nd quarter. McAdam LLC now owns 294 shares of the information services provider’s stock valued at $643,000 after buying an additional 8 shares during the period. West Michigan Advisors LLC increased its holdings in Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after buying an additional 9 shares during the period. Finally, Somerville Kurt F increased its holdings in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 277,493 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The stock was purchased at an average price of $36.01 per share, for a total transaction of $9,992,522.93. Following the completion of the transaction, the insider now directly owns 870,895 shares in the company, valued at $31,360,928.95. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 661,702 shares of company stock worth $23,399,217 and have sold 190,464 shares worth $8,535,735. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Alphabet stock opened at $99.21 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $152.10. The company has a market cap of $1.28 trillion, a PE ratio of 19.70, a PEG ratio of 1.74 and a beta of 1.08. The company’s 50-day moving average is $93.63 and its two-hundred day moving average is $102.00.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The firm had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOG. The Goldman Sachs Group set a $135.00 target price on shares of Alphabet in a report on Friday, November 18th. Cowen lowered their target price on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Oppenheimer lowered their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Piper Sandler lowered their target price on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Finally, Cowen lowered their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.40.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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