Municipal Employees Retirement System of Michigan reduced its position in Alphabet Inc (NASDAQ:GOOG) by 20.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,793 shares of the information services provider’s stock after selling 1,950 shares during the period. Alphabet accounts for approximately 0.4% of Municipal Employees Retirement System of Michigan’s holdings, making the stock its 26th biggest holding. Municipal Employees Retirement System of Michigan’s holdings in Alphabet were worth $7,474,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GOOG. Burt Wealth Advisors grew its holdings in shares of Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after purchasing an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in shares of Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 5 shares during the last quarter. Archford Capital Strategies LLC grew its holdings in shares of Alphabet by 400.0% during the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after purchasing an additional 832 shares during the last quarter. Almanack Investment Partners LLC. grew its holdings in shares of Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after purchasing an additional 7 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its holdings in shares of Alphabet by 1,046.7% during the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after purchasing an additional 157 shares during the last quarter. 34.62% of the stock is owned by hedge funds and other institutional investors.

In other news, VP James Grier Campbell sold 183 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $1,017.21, for a total transaction of $186,149.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total value of $4,508,680.00. Following the sale, the chief executive officer now owns 656 shares of the company’s stock, valued at approximately $739,423.52. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock valued at $38,411,507 over the last 90 days. 13.92% of the stock is currently owned by insiders.

Several equities analysts have recently commented on the company. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a report on Friday. SunTrust Banks upped their target price on Alphabet to $1,250.00 and gave the company a “buy” rating in a report on Friday, January 12th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, January 12th. Vetr lowered Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a report on Wednesday, January 10th. Finally, BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,052.31.

Shares of Alphabet Inc (GOOG) opened at $1,155.81 on Tuesday. The firm has a market capitalization of $805,160.00, a P/E ratio of 38.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. Alphabet Inc has a 52-week low of $790.52 and a 52-week high of $1,159.88.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping analysts’ consensus estimates of $8.31 by $1.26. The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.06 earnings per share.

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Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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