Public Employees Retirement Association of Colorado Sells 19,766 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Public Employees Retirement Association of Colorado reduced its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 322,569 shares of the information services provider’s stock after selling 19,766 shares during the period. Alphabet comprises approximately 3.8% of Public Employees Retirement Association of Colorado’s investment portfolio, making the stock its 4th largest position. Public Employees Retirement Association of Colorado’s holdings in Alphabet were worth $934,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Morgan Stanley boosted its position in Alphabet by 1.2% during the 2nd quarter. Morgan Stanley now owns 3,216,517 shares of the information services provider’s stock worth $7,854,059,000 after buying an additional 39,437 shares during the period. New World Advisors LLC boosted its position in Alphabet by 7.5% during the 3rd quarter. New World Advisors LLC now owns 428 shares of the information services provider’s stock worth $1,178,000 after buying an additional 30 shares during the period. EagleClaw Capital Managment LLC boosted its position in Alphabet by 1.1% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 1,209 shares of the information services provider’s stock worth $3,232,000 after buying an additional 13 shares during the period. Institutional & Family Asset Management LLC boosted its position in Alphabet by 29.5% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 57 shares of the information services provider’s stock worth $152,000 after buying an additional 13 shares during the period. Finally, Essex Financial Services Inc. boosted its position in Alphabet by 43.2% during the 3rd quarter. Essex Financial Services Inc. now owns 5,964 shares of the information services provider’s stock worth $15,944,000 after buying an additional 1,798 shares during the period. Institutional investors own 41.70% of the company’s stock.

In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the company’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the transaction, the insider now owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 550,261 shares of company stock worth $21,637,779. Insiders own 11.70% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Barclays dropped their price target on shares of Alphabet from $3,300.00 to $3,200.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 27th. MKM Partners dropped their price target on shares of Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Canaccord Genuity Group dropped their price target on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Finally, Susquehanna boosted their price target on shares of Alphabet from $3,600.00 to $3,750.00 and gave the stock a “positive” rating in a research report on Wednesday, February 2nd. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $3,314.08.

Shares of NASDAQ:GOOGL traded up $40.56 during midday trading on Tuesday, reaching $2,329.46. The company had a trading volume of 1,150,287 shares, compared to its average volume of 1,935,054. The company’s 50 day moving average price is $2,558.47 and its 200 day moving average price is $2,723.42. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.53 trillion, a P/E ratio of 21.07, a P/E/G ratio of 1.08 and a beta of 1.13. Alphabet Inc. has a 52-week low of $2,196.49 and a 52-week high of $3,030.93.

Alphabet shares are going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be payable to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter in the previous year, the company earned $26.29 earnings per share. Research analysts forecast that Alphabet Inc. will post 112.62 EPS for the current fiscal year.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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