Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Summitry LLC

Summitry LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 544,747 shares of the information services provider’s stock after acquiring an additional 3,750 shares during the quarter. Alphabet comprises about 5.1% of Summitry LLC’s investment portfolio, making the stock its 4th biggest holding. Summitry LLC’s holdings in Alphabet were worth $103,121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in Alphabet during the fourth quarter worth approximately $39,000. PayPay Securities Corp grew its position in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the last quarter. Finally, Denver PWM LLC increased its holdings in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. 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 report on Thursday, February 6th. Finally, Piper Sandler reduced their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Ten investment 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 company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock worth $21,089,470 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Trading Down 3.4 %

Alphabet stock opened at $145.60 on Friday. Alphabet Inc. has a 52 week low of $145.38 and a 52 week high of $207.05. 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 firm has a market capitalization of $1.77 trillion, a PE ratio of 18.09, a PEG ratio of 1.34 and a beta of 1.03. The business’s 50-day simple moving average is $175.15 and its 200-day simple moving average is $176.68.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Alphabet Company 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.