Louisiana State Employees Retirement System Has $72.78 Million Position in Alphabet Inc. (NASDAQ:GOOG)

by · The Markets Daily

Louisiana State Employees Retirement System decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 435,300 shares of the information services provider’s stock after selling 14,000 shares during the quarter. Alphabet comprises approximately 1.3% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 9th largest position. Louisiana State Employees Retirement System’s holdings in Alphabet were worth $72,778,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet during the 2nd quarter worth approximately $37,000. HWG Holdings LP bought a new position in Alphabet during the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP raised its holdings in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GOOG shares. Pivotal Research started coverage on shares of Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective for the company. Oppenheimer reduced their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. UBS Group reduced their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Read Our Latest Stock Analysis on Alphabet

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 in the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $166.99 on Friday. The company has a fifty day simple moving average of $163.35 and a 200 day simple moving average of $170.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.06 trillion, a P/E ratio of 23.96, a PEG ratio of 1.27 and a beta of 1.04.

Alphabet Company Profile

(Free Report)

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.

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