Summit Trail Advisors LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Summit Trail Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,414 shares of the information services provider’s stock after purchasing an additional 15,940 shares during the quarter. Alphabet accounts for about 0.7% of Summit Trail Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Summit Trail Advisors LLC’s holdings in Alphabet were worth $26,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOGL. Capstone Triton Financial Group LLC purchased a new stake in shares of Alphabet during the second quarter worth about $232,000. Sei Investments Co. grew its holdings in Alphabet by 6.8% during the 2nd quarter. Sei Investments Co. now owns 5,312,024 shares of the information services provider’s stock valued at $967,587,000 after buying an additional 339,627 shares in the last quarter. Garden State Investment Advisory Services LLC raised its position in shares of Alphabet by 2.3% during the second quarter. Garden State Investment Advisory Services LLC now owns 10,404 shares of the information services provider’s stock valued at $1,896,000 after buying an additional 235 shares during the last quarter. Ranch Capital Advisors Inc. lifted its holdings in shares of Alphabet by 0.7% in the second quarter. Ranch Capital Advisors Inc. now owns 12,389 shares of the information services provider’s stock worth $2,257,000 after buying an additional 87 shares in the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of Alphabet by 11.4% during the second quarter. AE Wealth Management LLC now owns 730,889 shares of the information services provider’s stock worth $133,132,000 after acquiring an additional 74,830 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GOOGL shares. TD Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Evercore ISI decreased their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada raised their target price on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research began coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Alphabet Stock Up 0.7 %

Alphabet stock opened at $167.06 on Friday. The business has a fifty day moving average price of $162.06 and a 200-day moving average price of $167.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 217,592 shares of company stock worth $35,922,911. Company insiders own 11.55% of the company’s stock.

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.