Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,083,107 shares of the information services provider’s stock after selling 7,612 shares during the period. Alphabet accounts for 1.1% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 11th biggest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Alphabet were worth $164,914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Addison Capital Co boosted its holdings in Alphabet by 53.0% in the 1st quarter. Addison Capital Co now owns 2,709 shares of the information services provider’s stock worth $412,000 after acquiring an additional 938 shares during the period. Hohimer Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter valued at $680,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. grew its holdings in Alphabet by 45.6% during the 1st quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 282,912 shares of the information services provider’s stock valued at $43,076,000 after purchasing an additional 88,551 shares in the last quarter. QRG Capital Management Inc. increased its stake in Alphabet by 12.9% during the 1st quarter. QRG Capital Management Inc. now owns 761,593 shares of the information services provider’s stock worth $115,960,000 after buying an additional 86,948 shares during the period. Finally, Sustainable Growth Advisers LP lifted its stake in shares of Alphabet by 1.6% in the first quarter. Sustainable Growth Advisers LP now owns 5,664,038 shares of the information services provider’s stock worth $862,406,000 after acquiring an additional 87,794 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,488 shares of company stock worth $21,954,455. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, TD Cowen boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $174.38.

Alphabet Stock Performance

Alphabet stock traded down $2.57 during trading hours on Wednesday, reaching $182.93. 11,018,097 shares of the company were exchanged, compared to its average volume of 20,513,283. Alphabet Inc. has a 12 month low of $118.68 and a 12 month high of $193.31. The firm has a market cap of $2.26 trillion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.41 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $179.81 and a 200 day moving average of $159.95.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the business posted $1.17 EPS. Alphabet’s revenue was up 15.4% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Alphabet Company 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.