Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 221,255 shares of the information services provider’s stock after buying an additional 19,828 shares during the period. Alphabet comprises about 1.6% of Summit Trail Advisors LLC’s portfolio, making the stock its 8th biggest holding. Summit Trail Advisors LLC’s holdings in Alphabet were worth $42,136,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GOOG. Weiss Asset Management LP acquired a new position in Alphabet in the 3rd quarter worth about $25,000. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter worth about $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the 3rd quarter worth about $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC increased its holdings in Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOG shares. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays increased their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Citigroup increased their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was 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 in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,529 shares of company stock worth $16,600,078. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.3 %

Shares of Alphabet stock opened at $187.88 on Friday. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The stock’s 50-day moving average is $193.89 and its 200 day moving average is $176.47. The firm has a market cap of $2.30 trillion, a price-to-earnings ratio of 23.34, a PEG ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s payout ratio is currently 9.94%.

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.