Summit Trail Advisors LLC Acquires 33,776 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Summit Trail Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,927 shares of the information services provider's stock after buying an additional 33,776 shares during the period. Alphabet accounts for approximately 1.0% of Summit Trail Advisors LLC's holdings, making the stock its 13th biggest position. Summit Trail Advisors LLC's holdings in Alphabet were worth $31,690,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Anderson Financial Strategies LLC bought a new position in Alphabet in the 4th quarter worth about $49,000. EQ Wealth Advisors LLC bought a new position in Alphabet in the 1st quarter worth about $49,000. Navigoe LLC purchased a new position in Alphabet in the 4th quarter worth about $51,000. Prudent Man Investment Management Inc. purchased a new position in Alphabet in the 4th quarter worth about $53,000. Finally, Campbell Capital Management Inc. purchased a new position in Alphabet in the 4th quarter worth about $57,000. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GOOGL shares. Sanford C. Bernstein boosted their target price on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Jefferies Financial Group decreased their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Tigress Financial boosted their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Finally, Morgan Stanley decreased their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $199.95.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 over the last three months. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 1.5%

NASDAQ GOOGL opened at $176.79 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $2.15 trillion, a P/E ratio of 19.71, a P/E/G ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a 50 day moving average price of $169.03 and a 200-day moving average price of $173.67.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the prior year, the company earned $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Alphabet Company Profile

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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