Red Spruce Capital LLC Takes $5.02 Million Position in Alphabet Inc (NASDAQ:GOOGL)

Red Spruce Capital LLC bought a new stake in Alphabet Inc (NASDAQ:GOOGL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,746 shares of the information services provider’s stock, valued at approximately $5,017,000. Alphabet makes up about 4.2% of Red Spruce Capital LLC’s investment portfolio, making the stock its biggest holding.

Several other hedge funds have also bought and sold shares of the stock. Roof Eidam & Maycock ADV acquired a new stake in shares of Alphabet in the 3rd quarter valued at $33,000. Garrett Wealth Advisory Group LLC bought a new stake in shares of Alphabet in the third quarter valued at about $39,000. Vista Private Wealth Partners. LLC bought a new stake in shares of Alphabet in the third quarter valued at about $60,000. Investors Research Corp lifted its holdings in shares of Alphabet by 72.4% in the third quarter. Investors Research Corp now owns 50 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 21 shares in the last quarter. Finally, Enterprise Trust & Investment Co boosted its position in shares of Alphabet by 256.3% during the third quarter. Enterprise Trust & Investment Co now owns 57 shares of the information services provider’s stock worth $70,000 after buying an additional 41 shares during the period. 33.55% of the stock is owned by hedge funds and other institutional investors.

Shares of GOOGL opened at $1,439.20 on Thursday. Alphabet Inc has a 12 month low of $1,027.03 and a 12 month high of $1,442.63. The firm’s 50 day moving average is $1,356.66 and its 200-day moving average is $1,248.24. The stock has a market capitalization of $992.60 billion, a PE ratio of 30.29, a P/E/G ratio of 1.56 and a beta of 1.01. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing analysts’ consensus estimates of $12.42 by ($2.30). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The company had revenue of $33.01 billion for the quarter, compared to the consensus estimate of $32.84 billion. During the same quarter in the previous year, the company posted $13.06 earnings per share. Equities research analysts predict that Alphabet Inc will post 49.03 earnings per share for the current fiscal year.

Several brokerages recently commented on GOOGL. KeyCorp increased their target price on shares of Alphabet from $1,516.00 to $1,546.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Citigroup reiterated a “buy” rating and issued a $1,500.00 price target (up from $1,450.00) on shares of Alphabet in a research note on Tuesday, December 3rd. Piper Jaffray Companies assumed coverage on shares of Alphabet in a research report on Tuesday, December 3rd. They set an “overweight” rating and a $1,500.00 price target on the stock. Evercore ISI restated a “positive” rating and set a $1,600.00 price objective (up from $1,350.00) on shares of Alphabet in a research note on Monday. Finally, Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,322.00 price objective for the company in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,438.05.

Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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