Alphabet Inc (GOOG) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,448 shares of the information services provider’s stock after acquiring an additional 1,771 shares during the quarter. Alphabet makes up 0.9% of Retirement Systems of Alabama’s portfolio, making the stock its 12th biggest position. Retirement Systems of Alabama’s holdings in Alphabet were worth $169,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Investment Advisory Services LLC raised its holdings in shares of Alphabet by 0.4% during the second quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after purchasing an additional 1 shares during the period. Capital Advantage Inc. raised its holdings in shares of Alphabet by 0.4% during the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after purchasing an additional 1 shares during the period. Foster & Motley Inc. raised its holdings in shares of Alphabet by 0.8% during the second quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock worth $241,000 after purchasing an additional 2 shares during the period. Saratoga Research & Investment Management raised its holdings in shares of Alphabet by 1.2% during the second quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock worth $234,000 after purchasing an additional 3 shares during the period. Finally, Edge Wealth Management LLC raised its holdings in shares of Alphabet by 0.9% during the second quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock worth $309,000 after purchasing an additional 3 shares during the period. Hedge funds and other institutional investors own 34.62% of the company’s stock.

In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total transaction of $4,508,680.00. Following the completion of the transaction, the chief executive officer now owns 656 shares in the company, valued at approximately $739,423.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James Grier Campbell sold 184 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $1,012.66, for a total transaction of $186,329.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,900 shares of company stock worth $38,411,507. 13.92% of the stock is owned by corporate insiders.

Alphabet Inc (NASDAQ:GOOG) opened at $1,137.51 on Monday. The company has a market cap of $792,410.00, a PE ratio of 37.89 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc has a 52 week low of $790.52 and a 52 week high of $1,139.91.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. Alphabet’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the company earned $9.06 EPS.

A number of analysts have weighed in on the stock. Morningstar reissued a “neutral” rating on shares of Alphabet in a report on Friday. SunTrust Banks increased their target price on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, January 12th. Piper Jaffray Companies increased their target price on shares of Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a report on Thursday, January 11th. Finally, UBS Group reissued a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $1,052.31.

TRADEMARK VIOLATION NOTICE: This report was originally reported by Week Herald and is the sole property of of Week Herald. If you are reading this report on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The correct version of this report can be viewed at https://weekherald.com/2018/01/22/alphabet-inc-goog-shares-bought-by-retirement-systems-of-alabama.html.

About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply