New York State Teachers Retirement System Has $744.28 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

New York State Teachers Retirement System cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.9% in the 3rd quarter, Holdings Channel reports. The firm owned 4,451,679 shares of the information services provider’s stock after selling 277,804 shares during the period. Alphabet makes up about 1.5% of New York State Teachers Retirement System’s portfolio, making the stock its 8th biggest position. New York State Teachers Retirement System’s holdings in Alphabet were worth $744,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GOOG. Cullinan Associates Inc. raised its holdings in Alphabet by 8.4% in the 1st quarter. Cullinan Associates Inc. now owns 124,621 shares of the information services provider’s stock worth $18,975,000 after purchasing an additional 9,612 shares in the last quarter. Westhampton Capital LLC grew its position in shares of Alphabet by 23.9% in the 1st quarter. Westhampton Capital LLC now owns 4,040 shares of the information services provider’s stock worth $615,000 after buying an additional 780 shares during the period. Deepwater Asset Management LLC grew its position in shares of Alphabet by 18.5% in the 1st quarter. Deepwater Asset Management LLC now owns 89,082 shares of the information services provider’s stock worth $13,564,000 after buying an additional 13,927 shares during the period. Exchange Capital Management Inc. grew its position in shares of Alphabet by 2.9% in the 1st quarter. Exchange Capital Management Inc. now owns 6,091 shares of the information services provider’s stock worth $927,000 after buying an additional 170 shares during the period. Finally, Financial Strategies Group Inc. grew its position in shares of Alphabet by 22.8% in the 1st quarter. Financial Strategies Group Inc. now owns 43,876 shares of the information services provider’s stock worth $6,939,000 after buying an additional 8,156 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now owns 29,324 shares in the company, valued at approximately $4,838,460. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last quarter. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Canaccord Genuity Group upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Price Performance

GOOG opened at $176.14 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.27 and a beta of 1.04. The company’s 50-day simple moving average is $163.56 and its two-hundred day simple moving average is $170.30. Alphabet Inc. has a 52-week low of $123.93 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet 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.