Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Reduced by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 809,773 shares of the information services provider’s stock after selling 210,146 shares during the period. Alphabet accounts for about 1.3% of Texas Permanent School Fund Corp’s holdings, making the stock its 8th biggest position. Texas Permanent School Fund Corp’s holdings in Alphabet were worth $148,529,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOG. Gilbert & Cook Inc. grew its position in shares of Alphabet by 15.5% during the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after acquiring an additional 3,924 shares during the last quarter. Concentrum Wealth Management grew its position in shares of Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after acquiring an additional 3,283 shares during the last quarter. Aveo Capital Partners LLC grew its position in shares of Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after acquiring an additional 154 shares during the last quarter. Jump Financial LLC grew its position in shares of Alphabet by 103.9% during the fourth quarter. Jump Financial LLC now owns 10,181 shares of the information services provider’s stock worth $1,435,000 after acquiring an additional 5,188 shares during the last quarter. Finally, Boston Partners grew its position in Alphabet by 4.5% in the 4th quarter. Boston Partners now owns 26,719 shares of the information services provider’s stock valued at $3,766,000 after buying an additional 1,143 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. Insiders sold 201,867 shares of company stock valued at $34,218,581 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOOG. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. TD Cowen lifted 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, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Price Performance

Alphabet stock opened at $152.15 on Thursday. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. 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 business has a fifty day moving average of $170.36 and a two-hundred day moving average of $165.90. The company has a market cap of $1.87 trillion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.44 EPS. As a group, analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Alphabet Company 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.