Alphabet Inc. (NASDAQ:GOOG) is Texas Permanent School Fund Corp’s 8th Largest Position

Texas Permanent School Fund Corp trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,019,919 shares of the information services provider’s stock after selling 8,516 shares during the period. Alphabet comprises about 1.2% of Texas Permanent School Fund Corp’s holdings, making the stock its 8th biggest holding. Texas Permanent School Fund Corp’s holdings in Alphabet were worth $155,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of GOOG. Norges Bank purchased a new stake in Alphabet in the 4th quarter worth about $4,101,040,000. International Assets Investment Management LLC purchased a new stake in Alphabet in the 4th quarter worth about $11,600,970,000. Cerity Partners LLC lifted its stake in Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after acquiring an additional 2,583,128 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after acquiring an additional 2,222,950 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Alphabet by 50.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,918,113 shares of the information services provider’s stock worth $596,572,000 after acquiring an additional 1,308,691 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.1 %

Shares of NASDAQ GOOG traded down $0.24 during mid-day trading on Friday, reaching $187.06. 1,080,992 shares of the company traded hands, compared to its average volume of 20,608,092. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $2.31 trillion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company’s fifty day moving average is $178.83 and its two-hundred day moving average is $158.76. Alphabet Inc. has a fifty-two week low of $118.68 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. On average, analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.38.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold a total of 145,488 shares of company stock valued at $25,217,405 in the last three months. Company insiders own 12.99% of the company’s stock.

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.