Summitry LLC Purchases 1,047 Shares of Alphabet Inc. (NASDAQ:GOOG)

Summitry LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,523 shares of the information services provider’s stock after buying an additional 1,047 shares during the quarter. Summitry LLC’s holdings in Alphabet were worth $2,766,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. FMR LLC grew its stake in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after buying an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Alphabet by 0.3% during the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after buying an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Alphabet by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock worth $5,870,181,000 after buying an additional 875,480 shares during the period. Finally, Principal Financial Group Inc. increased its position in Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 1.7 %

NASDAQ GOOG opened at $172.79 on Wednesday. The stock has a market cap of $2.11 trillion, a P/E ratio of 21.46, a P/E/G ratio of 1.34 and a beta of 1.03. The stock’s fifty day moving average price is $183.56 and its 200-day moving average price is $178.44. Alphabet Inc. has a 12 month low of $148.20 and a 12 month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 9.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Scotiabank upped their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

About Alphabet

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.