Sierra Summit Advisors LLC Buys 13,331 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sierra Summit Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,923 shares of the information services provider’s stock after purchasing an additional 13,331 shares during the quarter. Alphabet accounts for approximately 3.9% of Sierra Summit Advisors LLC’s holdings, making the stock its 3rd biggest position. Sierra Summit Advisors LLC’s holdings in Alphabet were worth $19,294,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Community Bank N.A. raised its stake in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its stake in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after buying an additional 14,262 shares in the last quarter. Absolute Capital Management LLC lifted its holdings in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares during the period. Permanent Capital Management LP acquired a new stake in shares of Alphabet during the 4th quarter valued at about $273,000. Finally, Glass Wealth Management Co LLC increased its stake in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after acquiring an additional 1,580 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 2.8 %

Shares of NASDAQ GOOGL opened at $157.14 on Monday. The firm has a 50 day moving average price of $168.52 and a 200 day moving average price of $176.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $1.92 trillion, a P/E ratio of 19.52, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,297 shares of company stock worth $20,804,770 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOGL. Wolfe Research raised their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Thursday. Wells Fargo & Company dropped their price objective on Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research note on Thursday, February 6th. Finally, UBS Group set a $190.00 target price on shares of Alphabet in a research report on Thursday, March 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.51.

Alphabet 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.