New York State Common Retirement Fund Has $1.13 Billion Holdings in Alphabet Inc. (NASDAQ:GOOG)

New York State Common Retirement Fund lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,047,885 shares of the information services provider’s stock after selling 616,854 shares during the period. Alphabet makes up approximately 1.6% of New York State Common Retirement Fund’s portfolio, making the stock its 7th biggest position. New York State Common Retirement Fund’s holdings in Alphabet were worth $1,134,188,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Cranbrook Wealth Management LLC increased its stake in shares of Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after purchasing an additional 70 shares in the last quarter. Columbia Trust Co 01012016 increased its position in Alphabet by 3.7% in the third quarter. Columbia Trust Co 01012016 now owns 2,087 shares of the information services provider’s stock worth $275,000 after buying an additional 74 shares in the last quarter. Manchester Financial Inc. raised its stake in shares of Alphabet by 3.6% in the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after buying an additional 74 shares during the period. Atticus Wealth Management LLC lifted its position in shares of Alphabet by 1.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after buying an additional 75 shares in the last quarter. Finally, Congress Park Capital LLC grew its stake in shares of Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after acquiring an additional 76 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.7 %

Shares of GOOG stock opened at $161.10 on Thursday. The stock’s 50-day moving average price is $148.20 and its 200-day moving average price is $142.40. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the prior year, the firm earned $1.05 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last 90 days. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $159.86.

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.