New York State Common Retirement Fund Has $1.10 Billion Holdings in Alphabet Inc. $GOOG

New York State Common Retirement Fund lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,189,387 shares of the information services provider’s stock after selling 224,956 shares during the period. Alphabet accounts for 1.5% of New York State Common Retirement Fund’s portfolio, making the stock its 8th largest holding. New York State Common Retirement Fund owned 0.05% of Alphabet worth $1,097,935,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC raised its holdings in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Norges Bank bought a new stake in Alphabet in the second quarter worth $4,298,572,000. Nuveen LLC acquired a new position in Alphabet during the first quarter worth $2,622,943,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.1%

Shares of GOOG stock opened at $319.95 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $328.67. The firm has a market cap of $3.86 trillion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The stock has a 50 day moving average of $269.82 and a 200-day moving average of $219.56. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter last year, the company posted $2.12 earnings per share. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GOOG shares. Piper Sandler upped their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Barclays increased their price target on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a research report on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $304.62.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 227,850 shares of company stock valued at $58,874,814. Insiders own 12.99% of the company’s stock.

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.