Louisiana State Employees Retirement System Has $83.39 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Louisiana State Employees Retirement System reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 502,800 shares of the information services provider’s stock after selling 10,200 shares during the period. Alphabet comprises 1.5% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 7th largest holding. Louisiana State Employees Retirement System’s holdings in Alphabet were worth $83,389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Veracity Capital LLC increased its position in Alphabet by 7.2% in the 1st quarter. Veracity Capital LLC now owns 19,902 shares of the information services provider’s stock valued at $3,004,000 after acquiring an additional 1,345 shares during the period. Teamwork Financial Advisors LLC increased its position in Alphabet by 11.0% in the 1st quarter. Teamwork Financial Advisors LLC now owns 98,044 shares of the information services provider’s stock valued at $14,798,000 after acquiring an additional 9,701 shares during the period. GenTrust LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $755,000. Horizon Bancorp Inc. IN increased its position in Alphabet by 4.1% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,193 shares of the information services provider’s stock valued at $331,000 after acquiring an additional 87 shares during the period. Finally, FORVIS Wealth Advisors LLC increased its position in Alphabet by 32.9% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 99,625 shares of the information services provider’s stock valued at $15,036,000 after acquiring an additional 24,672 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,052 shares of company stock worth $38,424,448 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $176.51 on Thursday. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.20 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $162.86 and a 200-day moving average price of $169.36. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company earned $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GOOGL shares. Truist Financial upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.