Alphabet Inc. (NASDAQ:GOOG) is Summit Investment Advisors Inc.'s 9th Largest Position

Summit Investment Advisors Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,576 shares of the information services provider's stock after acquiring an additional 2,014 shares during the period. Alphabet accounts for about 35.7% of Summit Investment Advisors Inc.'s investment portfolio, making the stock its 9th largest position. Summit Investment Advisors Inc.'s holdings in Alphabet were worth $40,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter valued at about $27,000. LSV Asset Management acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the fourth quarter valued at $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Down 2.0 %

Shares of NASDAQ:GOOG traded down $3.18 during trading on Wednesday, reaching $155.50. 16,903,668 shares of the stock were exchanged, compared to its average volume of 19,400,727. The firm has a market cap of $1.90 trillion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The stock has a fifty day moving average of $169.17 and a two-hundred day moving average of $177.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Remove Ads

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data 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 net margin of 28.60% and a return on equity of 32.49%. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,663 shares of company stock worth $20,286,447. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on GOOG shares. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reiterated a "neutral" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. KeyCorp dropped their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Oppenheimer boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Benchmark reissued a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $208.71.

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.