Summit Trail Advisors LLC Has $20.31 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Summit Trail Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,380 shares of the information services provider’s stock after selling 19,048 shares during the quarter. Alphabet accounts for about 0.7% of Summit Trail Advisors LLC’s portfolio, making the stock its 22nd largest holding. Summit Trail Advisors LLC’s holdings in Alphabet were worth $20,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eudaimonia Partners LLC boosted its position in Alphabet by 0.3% in the third quarter. Eudaimonia Partners LLC now owns 43,591 shares of the information services provider’s stock valued at $5,704,000 after buying an additional 148 shares in the last quarter. Union Savings Bank grew its position in Alphabet by 6.3% during the 3rd quarter. Union Savings Bank now owns 16,370 shares of the information services provider’s stock worth $2,142,000 after acquiring an additional 970 shares during the last quarter. Kure Advisory LLC acquired a new position in Alphabet in the 3rd quarter worth about $518,000. PFG Private Wealth Management LLC raised its position in Alphabet by 73.0% in the third quarter. PFG Private Wealth Management LLC now owns 1,185 shares of the information services provider’s stock valued at $155,000 after purchasing an additional 500 shares during the last quarter. Finally, Shaker Investments LLC OH boosted its stake in shares of Alphabet by 7.0% during the third quarter. Shaker Investments LLC OH now owns 45,234 shares of the information services provider’s stock valued at $5,919,000 after purchasing an additional 2,976 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 253,329 shares of company stock worth $37,223,576 in the last 90 days. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GOOGL shares. Argus upped their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Rosenblatt Securities lifted their price target on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Mizuho boosted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. TD Cowen raised their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Wedbush boosted their price target on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five equities research 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 an average price target of $190.60.

View Our Latest Report on Alphabet

Alphabet Trading Up 0.3 %

NASDAQ GOOGL opened at $169.14 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $153.32 and a 200 day simple moving average of $143.58. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $174.71. The firm has a market capitalization of $2.09 trillion, a P/E ratio of 25.94, a PEG ratio of 1.29 and a beta of 1.02.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the business posted $1.17 EPS. On average, analysts predict that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company 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 of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%.

About Alphabet

(Free Report)

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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