Public Employees Retirement Association of Colorado cut its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 376,845 shares of the information services provider’s stock after selling 491 shares during the quarter. Alphabet makes up approximately 2.8% of Public Employees Retirement Association of Colorado’s holdings, making the stock its 4th biggest holding. Public Employees Retirement Association of Colorado owned about 0.05% of Alphabet worth $460,181,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Litman Gregory Asset Management LLC bought a new position in shares of Alphabet in the 2nd quarter worth $37,000. Garrett Wealth Advisory Group LLC bought a new position in shares of Alphabet in the 3rd quarter worth $39,000. Lipe & Dalton bought a new position in shares of Alphabet in the 2nd quarter worth $49,000. Johnson Financial Group Inc. raised its position in shares of Alphabet by 26.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares in the last quarter. Finally, Vista Private Wealth Partners. LLC bought a new position in shares of Alphabet in the 3rd quarter worth $60,000. 33.56% of the stock is currently owned by institutional investors and hedge funds.
GOOGL has been the subject of several recent research reports. Macquarie set a $1,300.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. BMO Capital Markets boosted their price target on Alphabet from $1,245.00 to $1,250.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Wedbush boosted their price target on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on Alphabet from $1,400.00 to $1,450.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on Alphabet from $1,425.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,406.25.
Shares of GOOGL stock traded up $2.06 during mid-day trading on Friday, reaching $1,309.00. The stock had a trading volume of 1,519,600 shares, compared to its average volume of 1,555,468. The firm has a market cap of $895.48 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.58 and a beta of 1.01. The business’s fifty day moving average is $1,241.32 and its 200-day moving average is $1,181.32. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,322.65.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.42 by ($2.30). The business had revenue of $33.01 billion for the quarter, compared to analysts’ expectations of $32.84 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. During the same quarter in the prior year, the company posted $13.06 EPS. On average, analysts forecast that Alphabet Inc will post 49.05 earnings per share for the current year.
Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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