Summitry LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Summitry LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,523 shares of the information services provider’s stock after purchasing an additional 1,047 shares during the period. Summitry LLC’s holdings in Alphabet were worth $2,766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter valued at $27,000. Weiss Asset Management LP bought a new stake in Alphabet during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet during the third quarter valued at about $33,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet in the fourth quarter worth $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.7 %

Shares of GOOG stock opened at $172.79 on Wednesday. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. 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 company has a 50-day moving average of $183.56 and a two-hundred day moving average of $178.44. The firm has a market cap of $2.11 trillion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 in the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank raised their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

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.