Summa Corp. Has $467,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Summa Corp. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,988 shares of the information services provider’s stock after selling 712 shares during the period. Summa Corp.’s holdings in Alphabet were worth $467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Financial Planning Inc. raised its stake in shares of Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after buying an additional 50 shares during the period. Ethos Financial Group LLC increased its holdings in shares of Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after buying an additional 53 shares during the last quarter. Hutchinson Capital Management CA raised its position in shares of Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after buying an additional 54 shares during the period. M. Kulyk & Associates LLC lifted its holdings in Alphabet by 0.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock valued at $1,227,000 after acquiring an additional 56 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. increased its stake in Alphabet by 0.4% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock worth $3,043,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $173.98 on Thursday. The stock’s 50-day simple moving average is $165.77 and its 200-day simple moving average is $176.42. The firm has a market capitalization of $2.11 trillion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup restated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Susquehanna reissued a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, UBS Group decreased their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is currently owned by insiders.

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.