California Public Employees Retirement System decreased its holdings in Alphabet Inc (NASDAQ:GOOGL) by 17.6% in the 4th quarter, Holdings Channel reports. The firm owned 782,151 shares of the information services provider’s stock after selling 166,691 shares during the quarter. Alphabet accounts for approximately 1.1% of California Public Employees Retirement System’s portfolio, making the stock its 7th largest position. California Public Employees Retirement System’s holdings in Alphabet were worth $817,317,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Vestor Capital LLC bought a new stake in shares of Alphabet during the third quarter worth $62,000. Lavaca Capital LLC bought a new stake in shares of Alphabet during the fourth quarter worth $97,000. 1 North Wealth Services LLC bought a new stake in shares of Alphabet during the fourth quarter worth $98,000. Sound Income Strategies LLC raised its position in shares of Alphabet by 71.4% during the fourth quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock worth $100,000 after acquiring an additional 40 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in shares of Alphabet during the fourth quarter worth $103,000. Hedge funds and other institutional investors own 34.12% of the company’s stock.
NASDAQ:GOOGL opened at $1,170.80 on Thursday. Alphabet Inc has a 1 year low of $977.66 and a 1 year high of $1,296.97. The company has a quick ratio of 3.93, a current ratio of 3.96 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $789.07 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.56 by $1.34. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The firm had revenue of $29.48 billion during the quarter, compared to analysts’ expectations of $29.99 billion. During the same period in the previous year, the firm earned $13.33 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc will post 48.44 earnings per share for the current year.
A number of research firms have recently weighed in on GOOGL. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. DZ Bank restated a “hold” rating and set a $1,197.00 target price on shares of Alphabet in a research report on Wednesday, May 1st. Deutsche Bank upped their price objective on Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $1,350.00 price objective on shares of Alphabet in a report on Tuesday, February 5th. Five research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $1,328.88.
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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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