Alphabet Inc. (NASDAQ:GOOGL) Position Lifted by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 18.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 171,151 shares of the information services provider’s stock after buying an additional 27,027 shares during the quarter. Alphabet makes up 1.2% of Summit Trail Advisors LLC’s portfolio, making the stock its 11th biggest position. Summit Trail Advisors LLC’s holdings in Alphabet were worth $32,399,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. International Assets Investment Management LLC increased its holdings in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Alphabet in the 3rd quarter worth about $513,024,000. Finally, Geode Capital Management LLC increased its stake in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $179.66 on Friday. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 22.32, a P/E/G ratio of 1.35 and a beta of 0.99. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $192.46 and a two-hundred day moving average price of $175.69.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts predict 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 will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock valued at $25,055,751 in the last ninety days. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOGL shares. Royal Bank of Canada raised their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley cut their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Cantor Fitzgerald cut their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.62.

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.