State Treasurer State of Michigan decreased its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,617 shares of the information services provider’s stock after selling 6,400 shares during the period. Alphabet accounts for 0.7% of State Treasurer State of Michigan’s portfolio, making the stock its 26th largest position. State Treasurer State of Michigan’s holdings in Alphabet were worth $87,871,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Burt Wealth Advisors grew its stake in Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares during the period. Signature Estate & Investment Advisors LLC grew its stake in Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after buying an additional 5 shares during the period. Archford Capital Strategies LLC grew its stake in Alphabet by 400.0% during the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after buying an additional 832 shares during the period. Almanack Investment Partners LLC. grew its stake in Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after buying an additional 7 shares during the period. Finally, St. Johns Investment Management Company LLC grew its stake in Alphabet by 1,046.7% during the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after buying an additional 157 shares during the period. 34.64% of the stock is owned by hedge funds and other institutional investors.

GOOG has been the subject of several research reports. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Friday, October 20th. Wells Fargo & Company restated a “buy” rating on shares of Alphabet in a research note on Friday, October 6th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $1,150.00 target price on shares of Alphabet in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-eight have assigned a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,046.24.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $958.40, for a total transaction of $3,833,600.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James Grier Campbell sold 183 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total transaction of $175,544.58. The disclosure for this sale can be found here. Insiders sold 32,900 shares of company stock worth $33,139,660 over the last ninety days. 13.92% of the stock is currently owned by corporate insiders.

Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,064.95 on Thursday. The stock has a market cap of $748,398.00, a price-to-earnings ratio of 36.06 and a beta of 0.93. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. Alphabet Inc has a twelve month low of $770.41 and a twelve month high of $1,078.49.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the 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%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the company posted $9.06 earnings per share.

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Alphabet Company Profile

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)

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