Flputnam Investment Management Co. Has $18.28 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Flputnam Investment Management Co. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,688 shares of the information services provider’s stock after purchasing an additional 22,012 shares during the period. Flputnam Investment Management Co.’s holdings in Alphabet were worth $18,277,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. DC Investments Management LLC acquired a new position in Alphabet during the first quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet during the first quarter worth $184,000. Turim 21 Investimentos Ltda. increased its holdings in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new position in shares of Alphabet during the first quarter worth $279,000. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of Alphabet by 29.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after buying an additional 26 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOG. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $159.86.

Alphabet Trading Up 0.6 %

GOOG opened at $156.88 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70. The firm has a market capitalization of $1.95 trillion, a PE ratio of 27.05, a P/E/G ratio of 1.44 and a beta of 1.05. The company’s 50-day moving average is $147.15 and its 200 day moving average is $141.61.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. As a group, research analysts predict that Alphabet Inc. will post 6.78 earnings per share 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.