Flputnam Investment Management Co. Has $78.55 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Flputnam Investment Management Co. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 562,318 shares of the information services provider’s stock after buying an additional 2,076 shares during the period. Alphabet accounts for about 1.9% of Flputnam Investment Management Co.’s portfolio, making the stock its 7th largest holding. Flputnam Investment Management Co.’s holdings in Alphabet were worth $78,550,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC boosted its holdings in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. Northern Trust Corp boosted its holdings in Alphabet by 3.7% in the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Alphabet by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock valued at $4,453,856,000 after purchasing an additional 335,219 shares during the period. American Century Companies Inc. boosted its holdings in Alphabet by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after purchasing an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Alphabet by 9.3% in the 3rd quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after purchasing an additional 2,058,221 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $160.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. UBS Group boosted their price objective on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Redburn Atlantic boosted their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.71.

Alphabet Trading Up 1.4 %

GOOGL opened at $156.28 on Tuesday. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.94 trillion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company has a fifty day moving average price of $146.43 and a two-hundred day moving average price of $140.78.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. Analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.