Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 33,051 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,242,397 shares of the information services provider’s stock after selling 33,051 shares during the period. Alphabet comprises approximately 1.5% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 10th biggest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Alphabet were worth $235,186,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Compass Planning Associates Inc bought a new stake in Alphabet during the 4th quarter worth approximately $30,000. LMR Partners LLP acquired a new position in shares of Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp raised its position in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This represents a 19.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,992 shares of company stock worth $16,093,773. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOGL. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Bank of America reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Needham & Company LLC restated a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Morgan Stanley lowered their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.49.

Alphabet Trading Up 0.2 %

NASDAQ:GOOGL opened at $154.64 on Tuesday. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The firm has a 50-day moving average price of $178.83 and a two-hundred day moving average price of $177.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.89 trillion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s payout ratio is currently 9.94%.

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.