Alphabet Inc. (NASDAQ:GOOG) Holdings Raised by Summit X LLC

Summit X LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,572 shares of the information services provider’s stock after buying an additional 148 shares during the quarter. Summit X LLC’s holdings in Alphabet were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in GOOG. Moors & Cabot Inc. lifted its holdings in Alphabet by 3.2% in the 4th quarter. Moors & Cabot Inc. now owns 66,889 shares of the information services provider’s stock worth $12,738,000 after purchasing an additional 2,065 shares during the last quarter. Prosperity Wealth Management Inc. increased its position in Alphabet by 9.4% in the 4th quarter. Prosperity Wealth Management Inc. now owns 1,886 shares of the information services provider’s stock worth $359,000 after buying an additional 162 shares during the period. Prosperity Financial Group Inc. increased its position in Alphabet by 8.9% in the 4th quarter. Prosperity Financial Group Inc. now owns 4,884 shares of the information services provider’s stock worth $930,000 after buying an additional 401 shares during the period. Warburton Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $529,000. Finally, Natural Investments LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,031,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOG. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Oppenheimer boosted their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Trading Down 1.1 %

Shares of GOOG opened at $165.98 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $138.21 and a 12-month high of $208.70. The firm has a market capitalization of $2.02 trillion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock’s fifty day simple moving average is $188.87 and its 200-day simple moving average is $178.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,182 shares of company stock valued at $18,192,354 over the last 90 days. 12.99% of the stock is owned by company 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.