Alphabet Inc. (NASDAQ:GOOGL) Holdings Lowered by Summitry LLC

Summitry LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,694 shares of the information services provider’s stock after selling 4,806 shares during the quarter. Alphabet makes up 4.3% of Summitry LLC’s portfolio, making the stock its 4th biggest holding. Summitry LLC’s holdings in Alphabet were worth $73,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Ieq Capital LLC lifted its stake in Alphabet by 1.4% in the 4th quarter. Ieq Capital LLC now owns 909,766 shares of the information services provider’s stock worth $127,085,000 after purchasing an additional 12,733 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of Alphabet by 2.0% in the fourth quarter. Forum Financial Management LP now owns 70,887 shares of the information services provider’s stock worth $9,902,000 after purchasing an additional 1,363 shares during the last quarter. USA Financial Formulas lifted its position in shares of Alphabet by 564.8% in the fourth quarter. USA Financial Formulas now owns 18,210 shares of the information services provider’s stock worth $2,544,000 after buying an additional 15,471 shares in the last quarter. Private Portfolio Partners LLC boosted its stake in Alphabet by 5.0% during the fourth quarter. Private Portfolio Partners LLC now owns 12,395 shares of the information services provider’s stock valued at $1,731,000 after buying an additional 592 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Alphabet by 6.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 376,348 shares of the information services provider’s stock valued at $52,572,000 after buying an additional 23,932 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.1 %

Shares of Alphabet stock opened at $176.06 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.00, a PEG ratio of 1.35 and a beta of 1.02. The firm’s 50-day moving average is $157.22 and its two-hundred day moving average is $145.16. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $176.26.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.45%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 48,076 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total value of $6,836,407.20. Following the completion of the transaction, the insider now directly owns 12,725 shares in the company, valued at $1,809,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, insider John Kent Walker sold 48,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total value of $6,836,407.20. Following the completion of the sale, the insider now directly owns 12,725 shares in the company, valued at $1,809,495. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total value of $3,219,300.00. Following the transaction, the chief executive officer now directly owns 2,355,191 shares in the company, valued at $336,980,728.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,511 shares of company stock worth $41,234,695. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOGL. Mizuho upped their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Morgan Stanley reiterated an “overweight” rating and set a $195.00 price objective on shares of Alphabet in a research report on Wednesday. Raymond James lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Wedbush upped their target price on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Jefferies Financial Group lifted their price target on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.60.

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Alphabet Company Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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