Public Employees Retirement Association of Colorado Has $128.49 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Public Employees Retirement Association of Colorado decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,268 shares of the information services provider’s stock after selling 1,540 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Alphabet were worth $128,494,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Liberty Wealth Management LLC grew its holdings in Alphabet by 249,281.4% during the second quarter. Liberty Wealth Management LLC now owns 1,249,401 shares of the information services provider’s stock valued at $499,000 after purchasing an additional 1,248,900 shares during the period. SG Americas Securities LLC lifted its stake in Alphabet by 104.8% in the first quarter. SG Americas Securities LLC now owns 27,220 shares of the information services provider’s stock valued at $56,308,000 after buying an additional 597,326 shares in the last quarter. GQG Partners LLC increased its holdings in Alphabet by 64.8% during the second quarter. GQG Partners LLC now owns 1,123,034 shares of the information services provider’s stock worth $2,813,907,000 after buying an additional 441,546 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Alphabet by 9.1% during the second quarter. JPMorgan Chase & Co. now owns 3,920,416 shares of the information services provider’s stock worth $9,825,819,000 after buying an additional 326,300 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Alphabet by 168.7% during the first quarter. Canada Pension Plan Investment Board now owns 402,007 shares of the information services provider’s stock worth $831,604,000 after buying an additional 252,373 shares during the last quarter. Institutional investors own 31.55% of the company’s stock.

GOOG has been the topic of several research reports. Jefferies Financial Group upped their price objective on shares of Alphabet from $2,950.00 to $3,150.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Canaccord Genuity upped their price objective on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Mizuho upped their price objective on shares of Alphabet from $2,800.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Susquehanna Bancshares upped their price objective on shares of Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Finally, Guggenheim upped their price objective on shares of Alphabet from $2,850.00 to $3,140.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $3,097.60.

In related news, Director Sergey Brin sold 13,889 shares of the firm’s stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $2,798.28, for a total value of $38,865,310.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $3,802.28, for a total transaction of $760,456.00. The disclosure for this sale can be found here. Insiders sold 508,728 shares of company stock valued at $459,355,508 in the last three months. Company insiders own 12.99% of the company’s stock.

GOOG traded up $67.79 on Thursday, hitting $2,825.79. 32,004 shares of the stock were exchanged, compared to its average volume of 1,306,943. Alphabet Inc. has a 12 month low of $1,514.62 and a 12 month high of $2,936.41. The business has a 50-day moving average of $2,807.00 and a two-hundred day moving average of $2,570.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14. The firm has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.85 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $19.89 by $7.37. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The business had revenue of $61.88 billion during the quarter, compared to analysts’ expectations of $56.08 billion. During the same quarter in the prior year, the business posted $10.13 earnings per share. Alphabet’s revenue was up 61.6% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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