Teachers Retirement System of The State of Kentucky lifted its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 80,685 shares of the information services provider’s stock after buying an additional 3,392 shares during the quarter. Alphabet comprises 0.9% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 8th biggest position. Teachers Retirement System of The State of Kentucky’s holdings in Alphabet were worth $78,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter valued at approximately $55,911,000. Manitou Investment Management Ltd. acquired a new position in Alphabet during the third quarter worth approximately $8,019,000. Morningstar Investment Services LLC increased its position in Alphabet by 11.5% during the third quarter. Morningstar Investment Services LLC now owns 38,382 shares of the information services provider’s stock worth $37,373,000 after purchasing an additional 3,954 shares during the last quarter. Sphera Funds Management LTD. increased its position in Alphabet by 32.7% during the third quarter. Sphera Funds Management LTD. now owns 5,767 shares of the information services provider’s stock worth $5,615,000 after purchasing an additional 1,421 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in Alphabet by 16.1% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 66,000 shares of the information services provider’s stock worth $64,266,000 after purchasing an additional 9,140 shares during the last quarter. 33.61% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target for the company. in a research report on Friday, February 2nd. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 price target for the company in a research report on Monday. BMO Capital Markets reaffirmed a “market perform” rating and set a $1,100.00 price target (up previously from $1,080.00) on shares of Alphabet in a research report on Friday, February 2nd. Finally, Barclays upped their price target on shares of Alphabet from $1,260.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $1,157.02.

Shares of Alphabet Inc (NASDAQ:GOOGL) opened at $1,007.71 on Friday. The firm has a market cap of $733,300.00, a price-to-earnings ratio of 32.97, a P/E/G ratio of 1.09 and a beta of 0.94. Alphabet Inc has a fifty-two week low of $824.30 and a fifty-two week high of $1,198.00. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). The firm had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. equities analysts anticipate that Alphabet Inc will post 42.51 earnings per share for the current year.

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

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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