Public Employees Retirement Association of Colorado Sells 1,540 Shares of Alphabet Inc. (NASDAQ:GOOG)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the second quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Ironwood Wealth Management LLC. raised its stake in shares of Alphabet by 13.9% during the 1st quarter. Ironwood Wealth Management LLC. now owns 834 shares of the information services provider’s stock worth $1,725,000 after purchasing an additional 102 shares during the period. E Fund Management Co. Ltd. bought a new stake in shares of Alphabet during the 1st quarter worth $5,536,000. Clayton Partners LLC bought a new stake in shares of Alphabet during the 1st quarter worth $4,313,000. Harbour Investments Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $210,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in Alphabet in the 1st quarter worth about $5,889,000. Institutional investors own 31.55% of the company’s stock.

Shares of NASDAQ GOOG traded up $67.79 during midday trading on Thursday, hitting $2,825.79. 32,004 shares of the company’s 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 company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.88 trillion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.85 and a beta of 1.00. The business’s fifty day moving average price is $2,807.00 and its two-hundred day moving average price is $2,570.43.

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

In related news, Director Sergey Brin sold 13,889 shares of the business’s stock in a transaction that occurred on Monday, October 11th. The stock was sold at an average price of $2,798.28, for a total value of $38,865,310.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Kent Walker sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, September 29th. The stock was sold at an average price of $2,700.01, for a total value of $6,741,924.97. The disclosure for this sale can be found here. Insiders sold a total of 508,728 shares of company stock valued at $459,355,508 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on GOOG. Guggenheim lifted their price objective on Alphabet from $2,850.00 to $3,140.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Morgan Stanley lifted their price objective on Alphabet from $2,575.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Truist lifted their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. BMO Capital Markets lifted their price objective on Alphabet from $2,700.00 to $3,000.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Finally, Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a report on Monday, July 26th. Three research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $3,097.60.

About Alphabet

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.

Recommended Story: What is a Fibonacci Channel?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.