Summit Trail Advisors LLC Acquires 8,350 Shares of Alphabet Inc. (NASDAQ:GOOG)

Summit Trail Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,257 shares of the information services provider’s stock after buying an additional 8,350 shares during the period. Alphabet comprises approximately 1.0% of Summit Trail Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Summit Trail Advisors LLC’s holdings in Alphabet were worth $36,181,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOOG. Thrivent Financial for Lutherans increased its holdings in shares of Alphabet by 3.9% in the second quarter. Thrivent Financial for Lutherans now owns 5,053,888 shares of the information services provider’s stock valued at $927,000,000 after purchasing an additional 189,067 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Alphabet by 6.4% during the 2nd quarter. Sei Investments Co. now owns 3,101,712 shares of the information services provider’s stock worth $568,915,000 after buying an additional 186,120 shares during the period. MAS Advisors LLC acquired a new position in Alphabet in the 2nd quarter valued at about $224,000. Ranch Capital Advisors Inc. raised its holdings in Alphabet by 67.7% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 2,259 shares of the information services provider’s stock valued at $414,000 after acquiring an additional 912 shares during the period. Finally, AE Wealth Management LLC lifted its position in Alphabet by 19.4% during the second quarter. AE Wealth Management LLC now owns 95,295 shares of the information services provider’s stock worth $17,479,000 after acquiring an additional 15,496 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock opened at $164.64 on Friday. The company’s 50-day moving average price is $166.26 and its two-hundred day moving average price is $166.79. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.03 trillion, a P/E ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,667 shares of company stock valued at $33,964,256. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Finally, Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $182.86.

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.