Alphabet Inc. $GOOG Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,665,537 shares of the information services provider’s stock after selling 10,768 shares during the period. Alphabet comprises approximately 1.1% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 13th biggest position. State of New Jersey Common Pension Fund D’s holdings in Alphabet were worth $295,450,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOOG. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the first quarter worth about $26,000. IFS Advisors LLC raised its position in shares of Alphabet by 400.0% in the second 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 period. Robbins Farley raised its position in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC raised its position in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the period. Finally, Fairman Group LLC increased its stake in shares of Alphabet by 121.3% during 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 in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $269.93 on Tuesday. The firm has a 50 day simple moving average of $238.65 and a 200-day simple moving average of $197.67. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $270.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $3.26 trillion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the transaction, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the transaction, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. UBS Group set a $255.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 9th. DA Davidson set a $825.00 target price on shares of Alphabet in a research note on Monday. Scotiabank reissued an “outperform” rating and set a $310.00 target price on shares of Alphabet in a research note on Thursday, October 16th. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.45.

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.