Alphabet Inc. (NASDAQ:GOOGL) is Red Spruce Capital LLC’s Largest Position

Red Spruce Capital LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.4% in the 4th quarter, HoldingsChannel reports. The firm owned 66,824 shares of the information services provider’s stock after buying an additional 2,175 shares during the quarter. Alphabet accounts for 5.6% of Red Spruce Capital LLC’s portfolio, making the stock its biggest position. Red Spruce Capital LLC’s holdings in Alphabet were worth $12,650,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. State Street Corp increased its stake in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,387 shares of company stock worth $24,368,654. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $200.21 on Monday. The stock has a market cap of $2.45 trillion, a PE ratio of 26.55, a PEG ratio of 1.27 and a beta of 0.98. The company’s fifty day moving average is $186.46 and its 200 day moving average is $173.69. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $202.29. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company earned $1.55 EPS. Research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOGL. Evercore ISI raised their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Stifel Nicolaus raised their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.44.

Check Out Our Latest Analysis on Alphabet

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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