Alphabet Inc (NASDAQ:GOOG) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in Alphabet Inc (NASDAQ:GOOG) by 37.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,762 shares of the information services provider’s stock after purchasing an additional 14,723 shares during the period. Alphabet comprises about 0.9% of State of Alaska Department of Revenue’s portfolio, making the stock its 9th biggest holding. State of Alaska Department of Revenue’s holdings in Alphabet were worth $65,535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. First Bank & Trust grew its holdings in shares of Alphabet by 0.8% in the second quarter. First Bank & Trust now owns 1,025 shares of the information services provider’s stock valued at $1,108,000 after purchasing an additional 8 shares during the period. Central Bank & Trust Co. grew its holdings in shares of Alphabet by 3.1% in the second quarter. Central Bank & Trust Co. now owns 295 shares of the information services provider’s stock valued at $319,000 after purchasing an additional 9 shares during the period. Telos Capital Management Inc. grew its holdings in shares of Alphabet by 1.0% in the second quarter. Telos Capital Management Inc. now owns 921 shares of the information services provider’s stock valued at $996,000 after purchasing an additional 9 shares during the period. Tarbox Family Office Inc. grew its holdings in shares of Alphabet by 6.8% in the second quarter. Tarbox Family Office Inc. now owns 141 shares of the information services provider’s stock valued at $152,000 after purchasing an additional 9 shares during the period. Finally, Aveo Capital Partners LLC grew its holdings in shares of Alphabet by 3.1% in the second quarter. Aveo Capital Partners LLC now owns 298 shares of the information services provider’s stock valued at $339,000 after purchasing an additional 9 shares during the period. Hedge funds and other institutional investors own 33.79% of the company’s stock.

Shares of GOOG traded up $6.96 during mid-day trading on Thursday, hitting $1,183.60. 574,441 shares of the company’s stock were exchanged, compared to its average volume of 1,359,313. The company has a market cap of $845.25 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 1.42 and a beta of 0.99. Alphabet Inc has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The stock’s 50-day moving average is $1,201.43 and its 200-day moving average is $1,171.46.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.75 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc will post 51.66 EPS for the current year.

In other news, Director Ann Mather sold 27 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $1,213.14, for a total transaction of $32,754.78. Following the sale, the director now owns 1,803 shares of the company’s stock, valued at $2,187,291.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amie Thuener O’toole sold 55 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $1,200.74, for a total transaction of $66,040.70. Following the sale, the vice president now directly owns 388 shares in the company, valued at approximately $465,887.12. The disclosure for this sale can be found here. Insiders have sold 5,391 shares of company stock worth $6,502,992 in the last three months. Corporate insiders own 12.99% of the company’s stock.

A number of equities research analysts recently issued reports on GOOG shares. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, September 23rd. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 23rd. Credit Suisse Group upped their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Bank of America reaffirmed a “buy” rating and issued a $1,450.00 target price (up previously from $1,350.00) on shares of Alphabet in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and an average price target of $1,378.93.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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