State of Alaska Department of Revenue Sells 15,500 Shares of Alphabet Inc. (NASDAQ:GOOG)

State of Alaska Department of Revenue lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 747,800 shares of the information services provider’s stock after selling 15,500 shares during the quarter. Alphabet comprises about 1.6% of State of Alaska Department of Revenue’s holdings, making the stock its 9th largest position. State of Alaska Department of Revenue’s holdings in Alphabet were worth $142,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GOOG. Private Wealth Management Group LLC lifted its stake in shares of Alphabet by 8.7% in the 4th quarter. Private Wealth Management Group LLC now owns 1,630 shares of the information services provider’s stock valued at $310,000 after purchasing an additional 131 shares in the last quarter. Legacy CG LLC increased its position in Alphabet by 1.6% during the 4th quarter. Legacy CG LLC now owns 42,696 shares of the information services provider’s stock worth $8,131,000 after purchasing an additional 676 shares in the last quarter. YANKCOM Partnership purchased a new position in Alphabet in the fourth quarter valued at approximately $962,000. NovaPoint Capital LLC lifted its position in Alphabet by 46.6% during the fourth quarter. NovaPoint Capital LLC now owns 1,871 shares of the information services provider’s stock valued at $356,000 after buying an additional 595 shares in the last quarter. Finally, Insight Advisors LLC PA grew its stake in Alphabet by 152.7% during the fourth quarter. Insight Advisors LLC PA now owns 17,920 shares of the information services provider’s stock worth $3,453,000 after buying an additional 10,828 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 in the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Alphabet stock opened at $187.14 on Monday. The company has a market cap of $2.29 trillion, a PE ratio of 23.25, a P/E/G ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The company has a fifty day moving average price of $193.12 and a two-hundred day moving average price of $176.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOG. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Oppenheimer boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

About Alphabet

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.