Summerhill Capital Management lnc. Has $12.84 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Summerhill Capital Management lnc. grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 75.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,814 shares of the information services provider’s stock after acquiring an additional 29,187 shares during the quarter. Alphabet accounts for 9.6% of Summerhill Capital Management lnc.’s portfolio, making the stock its biggest holding. Summerhill Capital Management lnc.’s holdings in Alphabet were worth $12,837,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. LMR Partners LLP bought a new position in shares of Alphabet in the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. raised its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $39,000. PayPay Securities Corp lifted its stake in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Denver PWM LLC boosted its holdings in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL stock opened at $173.02 on Thursday. The stock’s 50-day moving average is $189.06 and its 200 day moving average is $176.38. Alphabet Inc. has a 1-year low of $130.85 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $2.11 trillion, a P/E ratio of 21.49, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. This represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,316 shares of company stock valued at $25,062,887 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOGL. Morgan Stanley decreased their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Piper Sandler reduced their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $210.62.

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.