Illinois Municipal Retirement Fund Has $57.94 Million Stock Holdings in Alphabet Inc. $GOOG

Illinois Municipal Retirement Fund lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the 2nd quarter, Holdings Channel reports. The firm owned 326,606 shares of the information services provider’s stock after acquiring an additional 4,323 shares during the period. Alphabet comprises about 0.8% of Illinois Municipal Retirement Fund’s holdings, making the stock its 10th biggest holding. Illinois Municipal Retirement Fund’s holdings in Alphabet were worth $57,937,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. IFS Advisors LLC grew its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley raised its stake in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC grew its stake in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the first quarter worth about $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 3.9%

GOOG opened at $290.59 on Tuesday. The stock has a market cap of $3.51 trillion, a PE ratio of 28.66, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $253.35 and a 200-day moving average of $206.74. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Bank of America upped their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. UBS Group reissued a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Sanford C. Bernstein raised their price target on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, KeyCorp reissued an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 222,396 shares of company stock worth $54,105,275 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Company Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.