Alphabet Inc. (NASDAQ:GOOG) is NJ State Employees Deferred Compensation Plan’s 4th Largest Position

NJ State Employees Deferred Compensation Plan trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 123,500 shares of the information services provider’s stock after selling 4,200 shares during the quarter. Alphabet makes up about 2.4% of NJ State Employees Deferred Compensation Plan’s portfolio, making the stock its 4th biggest position. NJ State Employees Deferred Compensation Plan’s holdings in Alphabet were worth $17,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meritage Portfolio Management increased its stake in Alphabet by 4.5% in the 4th quarter. Meritage Portfolio Management now owns 6,575 shares of the information services provider’s stock worth $927,000 after buying an additional 286 shares during the period. Roffman Miller Associates Inc. PA lifted its position in shares of Alphabet by 1.8% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 20,839 shares of the information services provider’s stock valued at $2,937,000 after acquiring an additional 362 shares in the last quarter. Nadler Financial Group Inc. boosted its stake in shares of Alphabet by 2.6% in the fourth quarter. Nadler Financial Group Inc. now owns 30,158 shares of the information services provider’s stock worth $4,250,000 after acquiring an additional 772 shares during the last quarter. Channing Global Advisors LLC increased its position in shares of Alphabet by 0.7% during the fourth quarter. Channing Global Advisors LLC now owns 35,730 shares of the information services provider’s stock worth $5,035,000 after purchasing an additional 255 shares in the last quarter. Finally, Lyell Wealth Management LP lifted its holdings in Alphabet by 3.2% in the 4th quarter. Lyell Wealth Management LP now owns 84,313 shares of the information services provider’s stock valued at $11,882,000 after purchasing an additional 2,618 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock valued at $36,746,578 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $173.69 on Friday. The business’s fifty day moving average price is $149.12 and its 200 day moving average price is $142.75. Alphabet Inc. has a 12-month low of $104.42 and a 12-month high of $176.42. The company has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a P/E/G ratio of 1.45 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 posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GOOG shares. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average target price of $165.67.

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.