Red Spruce Capital LLC Purchases 210 Shares of Alphabet Inc. (NASDAQ:GOOG)

Red Spruce Capital LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,132 shares of the information services provider’s stock after acquiring an additional 210 shares during the period. Red Spruce Capital LLC’s holdings in Alphabet were worth $1,930,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 0.3% during the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after buying an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares in the last quarter. Jennison Associates LLC raised its position in Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after buying an additional 1,291,274 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOG. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Performance

NASDAQ GOOG opened at $199.58 on Friday. The company’s 50 day moving average is $186.95 and its 200-day moving average is $175.06. The firm has a market cap of $2.44 trillion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. 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:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 over the last ninety days. Company insiders own 12.99% of the company’s stock.

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.