Red Spruce Capital LLC Has $12.65 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Red Spruce Capital LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,824 shares of the information services provider’s stock after acquiring an additional 2,175 shares during the period. Alphabet makes up approximately 5.6% of Red Spruce Capital LLC’s investment portfolio, making the stock its largest position. Red Spruce Capital LLC’s holdings in Alphabet were worth $12,650,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GOOGL. State Street Corp boosted its stake in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the period. JPMorgan Chase & Co. raised its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC raised its position in Alphabet by 2.5% during the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Alphabet by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $200.21 on Monday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The stock has a market cap of $2.45 trillion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s 50-day simple moving average is $186.46 and its 200 day simple moving average is $173.69.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the firm earned $1.55 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOGL shares. BMO Capital Markets restated an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Loop Capital boosted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Wedbush upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $209.44.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is owned by corporate insiders.

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.