Alphabet Inc. (NASDAQ:GOOG) is Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s 8th Largest Position

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,308 shares of the information services provider’s stock after selling 368 shares during the period. Alphabet comprises approximately 1.1% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s portfolio, making the stock its 8th largest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Alphabet were worth $94,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Freestone Capital Holdings LLC boosted its holdings in shares of Alphabet by 3.6% during the second quarter. Freestone Capital Holdings LLC now owns 3,027 shares of the information services provider’s stock worth $7,587,000 after purchasing an additional 105 shares during the period. ERTS Wealth Advisors LLC boosted its holdings in shares of Alphabet by 502.2% during the third quarter. ERTS Wealth Advisors LLC now owns 548 shares of the information services provider’s stock worth $1,478,000 after purchasing an additional 457 shares during the period. Ameritas Investment Company LLC boosted its holdings in shares of Alphabet by 5.7% during the second quarter. Ameritas Investment Company LLC now owns 1,382 shares of the information services provider’s stock worth $4,654,000 after purchasing an additional 74 shares during the period. YorkBridge Wealth Partners LLC raised its stake in Alphabet by 4.2% in the third quarter. YorkBridge Wealth Partners LLC now owns 4,187 shares of the information services provider’s stock worth $11,160,000 after buying an additional 170 shares in the last quarter. Finally, GQG Partners LLC raised its stake in Alphabet by 64.8% in 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 in the last quarter. Institutional investors and hedge funds own 30.66% of the company’s stock.

A number of equities analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Alphabet from $3,034.00 to $3,150.00 and gave the company an “overweight” rating in a research note on Wednesday, October 27th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, January 3rd. Royal Bank of Canada began coverage on shares of Alphabet in a research report on Friday, October 1st. They set an “outperform” rating and a $3,400.00 price target for the company. UBS Group assumed coverage on shares of Alphabet in a research report on Friday, December 3rd. They set a “buy” rating and a $3,925.00 price target for the company. Finally, Raymond James raised their target price on shares of Alphabet from $3,200.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 27th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $3,210.45.

Alphabet stock traded up $4.33 during mid-day trading on Friday, reaching $2,786.95. 28,223 shares of the company traded hands, compared to its average volume of 1,123,908. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.98 and a quick ratio of 2.96. Alphabet Inc. has a fifty-two week low of $1,721.55 and a fifty-two week high of $3,037.00. The company has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The firm’s fifty day moving average is $2,908.10 and its two-hundred day moving average is $2,816.68.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. The business had revenue of $65.12 billion for the quarter, compared to analyst estimates of $63.35 billion. During the same quarter in the prior year, the business posted $16.40 EPS. Alphabet’s revenue for the quarter was up 41.0% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 108.29 earnings per share for the current year.

In other news, Director Sergey Brin sold 13,888 shares of the company’s stock in a transaction on Wednesday, January 12th. The shares were sold at an average price of $2,839.10, for a total value of $39,429,420.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence Page sold 13,889 shares of the company’s stock in a transaction on Monday, October 18th. The shares were sold at an average price of $2,845.65, for a total transaction of $39,523,232.85. The disclosure for this sale can be found here. Insiders have sold a total of 198,473 shares of company stock worth $436,640,791 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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