Teachers Retirement System of The State of Kentucky acquired a new position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 998,293 shares of the information services provider’s stock, valued at approximately $95,985,000. Alphabet makes up about 1.1% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 7th largest holding.
A number of other large investors have also recently added to or reduced their stakes in GOOG. DC Investments Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet in the first quarter worth $184,000. Turim 21 Investimentos Ltda. lifted its position in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new stake in shares of Alphabet during the first quarter valued at $279,000. Finally, Global Assets Advisory LLC purchased a new stake in Alphabet during the 2nd quarter worth about $241,000. 28.69% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently commented on GOOG. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price target on Alphabet in a research note on Friday, February 3rd. Credit Suisse Group set a $136.00 price objective on Alphabet in a research report on Friday, February 3rd. Raymond James increased their target price on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Finally, Societe Generale dropped their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.13.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. On average, analysts expect that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the sale, the director now owns 144,740 shares in the company, valued at $14,474,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the transaction, the director now directly owns 144,740 shares in the company, valued at approximately $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,245 shares of company stock worth $7,174,078. Corporate insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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