Summerhill Capital Management lnc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 75.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,814 shares of the information services provider's stock after buying an additional 29,187 shares during the period. Alphabet makes up about 9.6% of Summerhill Capital Management lnc.'s portfolio, making the stock its largest position. Summerhill Capital Management lnc.'s holdings in Alphabet were worth $12,837,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. DT Investment Partners LLC grew its position in Alphabet by 10.2% during the 3rd quarter. DT Investment Partners LLC now owns 12,374 shares of the information services provider's stock worth $2,052,000 after purchasing an additional 1,149 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV grew its position in Alphabet by 14.5% during the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 1,308 shares of the information services provider's stock worth $217,000 after purchasing an additional 166 shares during the last quarter. Eagle Ridge Investment Management boosted its holdings in shares of Alphabet by 0.3% in the 3rd quarter. Eagle Ridge Investment Management now owns 218,302 shares of the information services provider's stock valued at $36,205,000 after acquiring an additional 662 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Alphabet by 0.9% in the 3rd quarter. Tectonic Advisors LLC now owns 8,019 shares of the information services provider's stock valued at $1,330,000 after acquiring an additional 69 shares during the last quarter. Finally, Legacy Capital Group California Inc. boosted its holdings in shares of Alphabet by 29.4% in the 3rd quarter. Legacy Capital Group California Inc. now owns 13,578 shares of the information services provider's stock valued at $2,252,000 after acquiring an additional 3,088 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Transactions at Alphabet
In related news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,316 shares of company stock worth $25,062,887. Insiders own 11.55% of the company's stock.
Alphabet Stock Up 0.9 %
GOOGL stock traded up $1.51 during midday trading on Friday, reaching $173.86. 27,359,201 shares of the company were exchanged, compared to its average volume of 29,604,490. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 1-year low of $134.00 and a 1-year high of $207.05. The stock's 50-day simple moving average is $188.21 and its 200 day simple moving average is $176.47. The company has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on GOOGL. Wedbush boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, January 6th. KeyCorp upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th. JMP Securities restated a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $232.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Finally, Morgan Stanley reduced their target price on shares of Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $210.62.
Read Our Latest Research Report on Alphabet
Alphabet Company Profile
(
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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