Summitry LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Summitry LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 524,694 shares of the information services provider’s stock after selling 4,806 shares during the period. Alphabet makes up about 4.3% of Summitry LLC’s holdings, making the stock its 4th biggest position. Summitry LLC’s holdings in Alphabet were worth $73,295,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $38,000. Meritage Group LP increased its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC raised its stake in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the last quarter. IAG Wealth Partners LLC raised its stake in shares of Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $55,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.1 %

Shares of GOOGL opened at $176.06 on Friday. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $176.26. The company has a market capitalization of $2.18 trillion, a P/E ratio of 27.00, a P/E/G ratio of 1.35 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm’s 50 day simple moving average is $157.22 and its 200 day simple moving average is $145.16.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%.

Analyst Ratings Changes

A number of equities research analysts recently commented on GOOGL shares. Roth Mkm increased their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday. Truist Financial raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Evercore ISI upped their price objective on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

View Our Latest Report on Alphabet

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider John Kent Walker sold 48,076 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the transaction, the insider now directly owns 12,725 shares of the company’s stock, valued at $1,809,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders sold a total of 276,511 shares of company stock valued at $41,234,695 over the last 90 days. Insiders own 0.88% of the company’s stock.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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