Franklin Street Advisors Inc. NC Has $49.68 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Franklin Street Advisors Inc. NC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 352,525 shares of the information services provider’s stock after selling 1,935 shares during the period. Alphabet comprises 4.1% of Franklin Street Advisors Inc. NC’s holdings, making the stock its 4th largest position. Franklin Street Advisors Inc. NC’s holdings in Alphabet were worth $49,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Totem Point Management LLC raised its position in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the period. Somerville Kurt F boosted its holdings in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the last quarter. BCK Partners Inc. purchased a new position in shares of Alphabet in the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. boosted its holdings in shares of Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. boosted its position in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after acquiring an additional 214 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, SVP Prabhakar Raghavan sold 16,088 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the sale, the senior vice president now owns 52,440 shares in the company, valued at $7,294,404. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider John Kent Walker sold 48,076 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total value of $6,836,407.20. Following the completion of the sale, the insider now directly owns 12,725 shares in the company, valued at approximately $1,809,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,088 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the sale, the senior vice president now owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The disclosure for this sale can be found here. Insiders sold a total of 251,138 shares of company stock valued at $35,427,655 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $146.33.

Alphabet Trading Up 0.2 %

NASDAQ:GOOG opened at $152.26 on Friday. Alphabet Inc. has a 12 month low of $100.29 and a 12 month high of $155.20. 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 50-day moving average price of $144.75 and a 200-day moving average price of $139.39. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping 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 company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period last year, the business earned $1.05 EPS. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 6.77 EPS for the current 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.