By otakuyassine3@gmail.com 
California Public Employees Retirement System decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,058,836 shares of the information services provider’s stock after selling 578,483 shares during the period. Alphabet makes up 1.7% of California Public Employees Retirement System’s holdings, making the stock its 9th biggest holding. California Public Employees Retirement System owned about 0.11% of Alphabet worth $2,472,038,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Community Bank N.A. increased its stake in shares of Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd grew its holdings in Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares during the period. Absolute Capital Management LLC increased its stake in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares in the last quarter. Permanent Capital Management LP acquired a new position in shares of Alphabet during the fourth quarter valued at about $273,000. Finally, Glass Wealth Management Co LLC boosted its position in shares of Alphabet by 4.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after purchasing an additional 1,580 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
Analysts Set New Price Targets
GOOGL has been the subject of a number of research analyst reports. Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Westpark Capital upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, April 1st. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Roth Mkm reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.
View Our Latest Stock Report on GOOGL
Alphabet Trading Up 0.8 %
NASDAQ:GOOGL opened at $146.75 on Tuesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock’s fifty day moving average price is $174.25 and its two-hundred day moving average price is $176.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.79 trillion, a P/E ratio of 18.23, a P/E/G ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,797 shares of company stock valued at $21,089,470. Company insiders own 11.55% of the company’s stock.
Alphabet Profile
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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