Trade Report: The Alphabet Inc. (GOOG) Position Lowered by Louisiana State Employees Retirement System

The Alphabet Inc. (GOOG) Position Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 19,400 shares of the company’s stock after selling 500 shares during the period. Alphabet makes up about 0.7% of Louisiana State Employees Retirement System’s portfolio, making the stock its 18th largest position. Louisiana State Employees Retirement System’s holdings in Alphabet were worth $13,427,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Investment Centers of America Inc. raised its position in shares of Alphabet by 141.7% in the first quarter. Investment Centers of America Inc. now owns 1,368 shares of the company’s stock worth $1,005,000 after buying an additional 802 shares during the period. Glenmede Trust Co. NA raised its position in shares of Alphabet by 170.8% in the first quarter. Glenmede Trust Co. NA now owns 95,364 shares of the company’s stock worth $71,041,000 after buying an additional 60,146 shares during the period. Wade G W & Inc. bought a new position in shares of Alphabet during the first quarter worth approximately $1,226,000. New Century Investment Management Inc. bought a new position in shares of Alphabet during the first quarter worth approximately $2,354,000. Finally, Hills Bank & Trust Co. raised its position in shares of Alphabet by 92.8% in the first quarter. Hills Bank & Trust Co. now owns 2,874 shares of the company’s stock worth $2,141,000 after buying an additional 1,383 shares during the period. 34.39% of the stock is currently owned by institutional investors.

Alphabet Inc. (NASDAQ:GOOG) traded up 0.39% during trading on Wednesday, reaching $786.14. 937,388 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $773.75 and its 200-day moving average is $740.98. The company has a market cap of $540.29 billion, a P/E ratio of 30.46 and a beta of 1.03. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. During the same quarter in the prior year, the business earned $6.99 EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis. Analysts predict that Alphabet Inc. will post $34.14 EPS for the current fiscal year.

A number of research analysts have issued reports on the stock. Credit Agricole SA restated a “buy” rating on shares of Alphabet in a research report on Friday, September 23rd. Moffett Nathanson restated a “buy” rating and set a $925.00 target price on shares of Alphabet in a research report on Friday, September 23rd. Deutsche Bank AG restated a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Wednesday. Wedbush lowered shares of Alphabet from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $700.00 to $800.00 in a research report on Tuesday, September 27th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $822.37 target price on the stock in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $926.55.

In other news, CEO Lawrence Page sold 33,332 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $748.02, for a total value of $24,933,002.64. Following the transaction, the chief executive officer now owns 30,666 shares in the company, valued at approximately $22,938,781.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 43 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $773.49, for a total transaction of $33,260.07. Following the completion of the transaction, the director now owns 1,656 shares in the company, valued at approximately $1,280,899.44. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by insiders.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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