California Public Employees Retirement System Has $1.84 Billion Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

California Public Employees Retirement System trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 663,084 shares of the information services provider’s stock after selling 41,418 shares during the quarter. Alphabet comprises about 1.4% of California Public Employees Retirement System’s investment portfolio, making the stock its 6th biggest holding. California Public Employees Retirement System’s holdings in Alphabet were worth $1,844,269,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOGL. Morling Financial Advisors LLC bought a new position in shares of Alphabet during the fourth quarter valued at $29,000. West Bancorporation Inc. purchased a new stake in Alphabet during the 4th quarter valued at about $29,000. Wealthgate Family Office LLC bought a new stake in Alphabet during the 4th quarter valued at about $32,000. NS Partners Ltd purchased a new position in Alphabet in the fourth quarter worth about $41,000. Finally, AHL Investment Management Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $46,000. 41.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 34,799 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the transaction, the insider now directly owns 18,484 shares in the company, valued at approximately $2,185,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, insider John Kent Walker sold 34,799 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the transaction, the insider now directly owns 18,484 shares in the company, valued at approximately $2,185,733. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 13,528 shares of Alphabet stock in a transaction dated Tuesday, May 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $456,164.16. Following the acquisition, the insider now owns 593,402 shares in the company, valued at approximately $20,009,515.44. The disclosure for this purchase can be found here. Insiders have sold 42,383 shares of company stock valued at $15,761,666 in the last 90 days. Company insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. MKM Partners decreased their price objective on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a report on Monday, July 18th. Mizuho decreased their price target on Alphabet from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, July 22nd. Susquehanna dropped their price objective on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday, July 27th. Exane BNP Paribas lowered Alphabet from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 20th. Finally, Wells Fargo & Company lowered their target price on shares of Alphabet from $170.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $147.36.

Alphabet Trading Down 0.6 %

GOOGL opened at $117.47 on Friday. Alphabet Inc. has a one year low of $101.88 and a one year high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.91 and a beta of 1.08. The stock’s 50 day moving average price is $155.27 and its 200-day moving average price is $137.96.

Alphabet (NASDAQ:GOOGLGet Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the business posted $27.26 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.22 EPS for the current year.

Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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