Alphabet Inc. (NASDAQ:GOOGL) is Public Employees Retirement Association of Colorado's 5th Largest Position

Public Employees Retirement Association of Colorado decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,505,957 shares of the information services provider's stock after selling 481,635 shares during the period. Alphabet comprises about 4.1% of Public Employees Retirement Association of Colorado's investment portfolio, making the stock its 5th biggest holding. Public Employees Retirement Association of Colorado's holdings in Alphabet were worth $1,042,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Principal Financial Group Inc. lifted its position in shares of Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock worth $1,871,384,000 after buying an additional 337,031 shares in the last quarter. Passumpsic Savings Bank raised its position in Alphabet by 38.0% during the third quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider's stock valued at $779,000 after purchasing an additional 1,294 shares during the period. SOA Wealth Advisors LLC. raised its position in Alphabet by 0.5% during the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider's stock valued at $6,199,000 after purchasing an additional 202 shares during the period. SkyView Investment Advisors LLC raised its position in Alphabet by 6.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider's stock valued at $382,000 after purchasing an additional 130 shares during the period. Finally, Te Ahumairangi Investment Management Ltd raised its position in Alphabet by 19.2% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider's stock valued at $22,703,000 after purchasing an additional 22,169 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL traded down $0.45 on Tuesday, reaching $160.16. The stock had a trading volume of 26,768,965 shares, compared to its average volume of 28,221,080. The firm has a market capitalization of $1.95 trillion, a PE ratio of 19.90, a PEG ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $161.69 and a 200 day moving average of $175.60. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares of the company's stock, valued at $1,232,544.70. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,163 shares of company stock valued at $25,361,647. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. UBS Group set a $195.00 target price on shares of Alphabet in a research note on Friday. DZ Bank lowered shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price for the company. in a research note on Thursday, February 6th. Truist Financial lowered their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Piper Sandler lifted their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $198.89.

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.