Arizona State Retirement System lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 74,043 shares of the information services provider’s stock after purchasing an additional 900 shares during the quarter. Alphabet comprises approximately 0.9% of Arizona State Retirement System’s holdings, making the stock its 13th largest holding. Arizona State Retirement System’s holdings in Alphabet were worth $67,285,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Waldron LP boosted its holdings in Alphabet by 84.3% in the 1st quarter. Waldron LP now owns 2,031 shares of the information services provider’s stock worth $1,679,000 after acquiring an additional 929 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in Alphabet by 2.0% in the 1st quarter. Clear Harbor Asset Management LLC now owns 4,073 shares of the information services provider’s stock worth $3,379,000 after acquiring an additional 79 shares during the period. Baker Ellis Asset Management LLC boosted its holdings in Alphabet by 1.5% in the 1st quarter. Baker Ellis Asset Management LLC now owns 2,289 shares of the information services provider’s stock worth $1,899,000 after acquiring an additional 33 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Alphabet by 3.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 36,220 shares of the information services provider’s stock worth $30,047,000 after acquiring an additional 1,275 shares during the period. Finally, K.J. Harrison & Partners Inc boosted its holdings in Alphabet by 4.0% in the 1st quarter. K.J. Harrison & Partners Inc now owns 2,594 shares of the information services provider’s stock worth $2,152,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 34.50% of the company’s stock.

A number of equities analysts have weighed in on GOOG shares. Citigroup Inc. restated a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a report on Thursday, July 27th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Alphabet in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,045.44.

In related news, Director Ann Mather sold 37 shares of Alphabet stock in a transaction on Friday, September 1st. The stock was sold at an average price of $940.67, for a total transaction of $34,804.79. Following the completion of the sale, the director now directly owns 1,789 shares of the company’s stock, valued at $1,682,858.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $993.58, for a total value of $3,974,320.00. Following the sale, the chief executive officer now directly owns 1,471 shares of the company’s stock, valued at $1,461,556.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,493 shares of company stock valued at $31,427,581. 13.92% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: This news story was reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://theolympiareport.com/2017/11/01/arizona-state-retirement-system-raises-stake-in-alphabet-inc-goog.html.

Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 1016.64 on Wednesday. The stock’s 50 day moving average price is $962.68 and its 200 day moving average price is $939.11. The stock has a market capitalization of $704.41 billion, a P/E ratio of 36.84 and a beta of 0.94. Alphabet Inc. has a one year low of $727.54 and a one year high of $1,048.39.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. During the same period in the previous year, the firm earned $9.06 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post $31.97 EPS for the current year.

Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.