Summitry LLC Has $103.12 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Summitry LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 544,747 shares of the information services provider’s stock after purchasing an additional 3,750 shares during the period. Alphabet makes up approximately 5.1% of Summitry LLC’s holdings, making the stock its 4th largest holding. Summitry LLC’s holdings in Alphabet were worth $103,121,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. grew its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter valued at $39,000. PayPay Securities Corp raised its position in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Denver PWM LLC boosted its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock valued at $21,089,470 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Rosenblatt Securities restated a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. UBS Group set a $190.00 target price on shares of Alphabet in a research report on Thursday, March 27th. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a report on Monday, March 31st. Finally, Bank of America reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

Shares of Alphabet stock opened at $145.60 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.77 trillion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock’s 50-day moving average is $175.15 and its 200-day moving average is $176.68. Alphabet Inc. has a one year low of $145.38 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.55%. Alphabet’s payout ratio is currently 9.94%.

About Alphabet

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.