Summit Trail Advisors LLC Sells 3,290 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Summit Trail Advisors LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,124 shares of the information services provider’s stock after selling 3,290 shares during the quarter. Alphabet accounts for about 0.6% of Summit Trail Advisors LLC’s portfolio, making the stock its 24th largest position. Summit Trail Advisors LLC’s holdings in Alphabet were worth $23,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. LMR Partners LLP purchased a new position in shares of Alphabet during the 3rd quarter worth about $32,000. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter worth about $41,000. Finally, Quarry LP bought a new stake in Alphabet in the second quarter worth about $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOGL. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Loop Capital upped their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Up 1.2 %

Alphabet stock opened at $174.71 on Friday. The firm has a market cap of $2.14 trillion, a PE ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $191.75. The stock’s 50 day simple moving average is $169.51 and its two-hundred day simple moving average is $170.24. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.