State of New Jersey Common Pension Fund D lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 690,000 shares of the information services provider’s stock after selling 62,000 shares during the period. Alphabet accounts for approximately 2.6% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 3rd biggest position. State of New Jersey Common Pension Fund D owned 0.10% of Alphabet worth $627,024,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gradient Investments LLC boosted its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock valued at $460,000 after purchasing an additional 3 shares during the last quarter. Saratoga Research & Investment Management boosted its holdings in shares of Alphabet by 1.2% during the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock valued at $234,000 after purchasing an additional 3 shares during the last quarter. Edge Wealth Management LLC boosted its holdings in shares of Alphabet by 0.9% during the 2nd quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock valued at $309,000 after purchasing an additional 3 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Alphabet by 1.4% during the 1st quarter. Hodges Capital Management Inc. now owns 298 shares of the information services provider’s stock valued at $247,000 after purchasing an additional 4 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Terra Nova Asset Management LLC now owns 642 shares of the information services provider’s stock valued at $583,000 after purchasing an additional 4 shares during the last quarter. 34.52% of the stock is owned by institutional investors and hedge funds.

Alphabet Inc. (NASDAQ GOOG) opened at 989.68 on Monday. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $997.21. The firm has a 50-day moving average of $942.88 and a 200-day moving average of $925.82. The stock has a market cap of $685.73 billion, a PE ratio of 35.87 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter last year, the business earned $8.42 EPS. The business’s revenue was up 21.0% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post $30.62 earnings per share for the current fiscal year.

In other news, Director Shirley M. Tilghman sold 525 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $938.09, for a total value of $492,497.25. Following the completion of the transaction, the director now owns 5,517 shares in the company, valued at approximately $5,175,442.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $958.40, for a total transaction of $3,833,600.00. The disclosure for this sale can be found here. Insiders sold a total of 40,694 shares of company stock valued at $38,042,264 in the last 90 days. Company insiders own 13.92% of the company’s stock.

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Several research analysts have commented on GOOG shares. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $980.86 price objective for the company in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, June 28th. MKM Partners reaffirmed a “buy” rating and issued a $1,170.00 price target on shares of Alphabet in a report on Wednesday, June 28th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $1,200.00 price target on shares of Alphabet in a report on Wednesday, June 28th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,034.07.

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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