Alphabet Inc (GOOG) Shares Sold by State Treasurer State of Michigan

State Treasurer State of Michigan trimmed its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,517 shares of the information services provider’s stock after selling 3,100 shares during the quarter. Alphabet comprises 0.7% of State Treasurer State of Michigan’s portfolio, making the stock its 26th biggest holding. State Treasurer State of Michigan’s holdings in Alphabet were worth $92,624,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOG. Blue Edge Capital LLC raised its holdings in Alphabet by 0.6% during the 2nd quarter. Blue Edge Capital LLC now owns 908 shares of the information services provider’s stock worth $825,000 after purchasing an additional 5 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares during the last quarter. Glenview Trust Co raised its holdings in Alphabet by 0.3% during the 2nd quarter. Glenview Trust Co now owns 1,878 shares of the information services provider’s stock worth $1,707,000 after purchasing an additional 6 shares during the last quarter. Almanack Investment Partners LLC. raised its holdings in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after purchasing an additional 7 shares during the last quarter. Finally, Comerica Securities Inc. raised its holdings in Alphabet by 0.4% during the 2nd quarter. Comerica Securities Inc. now owns 1,598 shares of the information services provider’s stock worth $1,452,000 after purchasing an additional 7 shares during the last quarter. 34.85% of the stock is owned by institutional investors and hedge funds.

How to Become a New Pot Stock Millionaire

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $993.80, for a total transaction of $3,975,200.00. Following the completion of the transaction, the chief executive officer now owns 940 shares of the company’s stock, valued at approximately $934,172. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James Grier Campbell sold 238 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1,162.61, for a total value of $276,701.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,720 shares of company stock valued at $52,755,337. Insiders own 13.92% of the company’s stock.

Shares of GOOG opened at $1,027.81 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc has a 52-week low of $817.02 and a 52-week high of $1,186.89. The company has a market capitalization of $704,100.06, a P/E ratio of 32.07 and a beta of 1.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. During the same quarter in the prior year, the firm posted $9.36 earnings per share. Alphabet’s revenue for the quarter was up 24.0% compared to the same quarter last year.

Alphabet declared that its board has authorized a share repurchase program on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

GOOG has been the subject of several recent research reports. SunTrust Banks boosted their price objective on Alphabet to $1,250.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, January 12th. Goldman Sachs reissued a “buy” rating on shares of Alphabet in a report on Thursday, January 25th. UBS reissued a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. Finally, BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $1,089.34.

COPYRIGHT VIOLATION NOTICE: “Alphabet Inc (GOOG) Shares Sold by State Treasurer State of Michigan” was posted by Ticker Report and is the property of of Ticker Report. If you are accessing this piece of content on another site, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/3334193/alphabet-inc-goog-shares-sold-by-state-treasurer-state-of-michigan.html.

About Alphabet

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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

Latest News

New Age Beverages  Stock Price Down 9.4% on Analyst Downgrade
New Age Beverages Stock Price Down 9.4% on Analyst Downgrade
Scotiabank Reiterates C$4.75 Price Target for Premier Gold Mines
Scotiabank Reiterates C$4.75 Price Target for Premier Gold Mines
BMO Capital Markets Increases Roots  Price Target to C$16.00
BMO Capital Markets Increases Roots Price Target to C$16.00
Syntel  Trading -0.6% Higher  After Strong Earnings
Syntel Trading -0.6% Higher After Strong Earnings
BNP Paribas Reiterates CHF 74 Price Target for Nestle
BNP Paribas Reiterates CHF 74 Price Target for Nestle
Roche  Given a CHF 230 Price Target at Morgan Stanley
Roche Given a CHF 230 Price Target at Morgan Stanley


© 2006-2018 Ticker Report. Google+.