California Public Employees Retirement System Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

California Public Employees Retirement System decreased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,367,448 shares of the information services provider’s stock after selling 682,107 shares during the period. Alphabet makes up 1.3% of California Public Employees Retirement System’s portfolio, making the stock its 9th largest holding. California Public Employees Retirement System owned approximately 0.10% of Alphabet worth $1,480,384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Andra AP fonden raised its stake in shares of Alphabet by 11.9% in the second quarter. Andra AP fonden now owns 39,442 shares of the information services provider’s stock valued at $4,721,000 after purchasing an additional 4,191 shares in the last quarter. Van Strum & Towne Inc. raised its position in Alphabet by 1.3% in the second quarter. Van Strum & Towne Inc. now owns 61,565 shares of the information services provider’s stock worth $7,369,000 after purchasing an additional 800 shares in the last quarter. KLCM Advisors Inc. lifted its stake in Alphabet by 6.0% during the second quarter. KLCM Advisors Inc. now owns 7,348 shares of the information services provider’s stock worth $880,000 after purchasing an additional 415 shares during the period. Operose Advisors LLC boosted its holdings in Alphabet by 13.5% during the second quarter. Operose Advisors LLC now owns 3,610 shares of the information services provider’s stock valued at $432,000 after purchasing an additional 430 shares in the last quarter. Finally, Rovin Capital UT ADV grew its stake in shares of Alphabet by 5.5% in the 2nd quarter. Rovin Capital UT ADV now owns 8,683 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 455 shares during the period. Institutional investors own 35.08% of the company’s stock.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 75,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total value of $9,831,750.00. Following the completion of the transaction, the director now owns 104,364 shares of the company’s stock, valued at $13,681,076.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total value of $9,831,750.00. Following the sale, the director now owns 104,364 shares in the company, valued at $13,681,076.76. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock valued at $23,425,367 over the last ninety days. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.7 %

Shares of NASDAQ GOOGL opened at $136.25 on Tuesday. The stock has a market capitalization of $1.71 trillion, a P/E ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05. The stock’s fifty day moving average is $133.42 and its 200 day moving average is $127.88. Alphabet Inc. has a 52 week low of $84.86 and a 52 week high of $141.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The firm had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. Sell-side analysts forecast that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GOOGL shares. Susquehanna reaffirmed a “positive” rating and issued a $150.00 target price on shares of Alphabet in a report on Thursday, August 31st. Jefferies Financial Group raised their price objective on shares of Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Loop Capital lifted their target price on shares of Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Royal Bank of Canada restated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Finally, JMP Securities lifted their price objective on Alphabet from $138.00 to $140.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 25th. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Get Our Latest Stock Analysis on GOOGL

About Alphabet

(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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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