Summitry LLC Has $4.45 Million Holdings in Alphabet Inc. $GOOG

Summitry LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 38.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,081 shares of the information services provider’s stock after buying an additional 7,003 shares during the period. Summitry LLC’s holdings in Alphabet were worth $4,449,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Creekmur Asset Management LLC increased its position in Alphabet by 14.5% in the 1st quarter. Creekmur Asset Management LLC now owns 819 shares of the information services provider’s stock valued at $128,000 after buying an additional 104 shares in the last quarter. Formidable Asset Management LLC raised its stake in Alphabet by 1.0% during the 1st quarter. Formidable Asset Management LLC now owns 39,530 shares of the information services provider’s stock worth $6,176,000 after buying an additional 387 shares during the period. ARQ Wealth Advisors LLC boosted its holdings in Alphabet by 3.5% in the first quarter. ARQ Wealth Advisors LLC now owns 5,139 shares of the information services provider’s stock worth $803,000 after acquiring an additional 175 shares in the last quarter. Finally, AMG National Trust Bank grew its stake in Alphabet by 5.8% in the first quarter. AMG National Trust Bank now owns 70,790 shares of the information services provider’s stock valued at $11,060,000 after acquiring an additional 3,865 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $276.98 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.34 trillion, a PE ratio of 27.32, a P/E/G ratio of 1.86 and a beta of 1.05. The business has a 50 day moving average of $257.84 and a 200-day moving average of $209.82. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $292.36.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOG. Mizuho set a $325.00 target price on Alphabet in a research report on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Bank of America raised their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. TD Cowen boosted their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.