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

Summit Trail Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,793 shares of the information services provider's stock after buying an additional 19,538 shares during the period. Alphabet comprises approximately 1.2% of Summit Trail Advisors LLC's investment portfolio, making the stock its 12th biggest position. Summit Trail Advisors LLC's holdings in Alphabet were worth $37,619,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GOOG. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC raised its stake in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $1,551,533,000. Northern Trust Corp raised its stake in shares of Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC raised its stake in shares of Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction 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 approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,643 shares of company stock valued at $36,330,928. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOG traded up $0.46 during trading hours on Thursday, reaching $180.22. 13,287,389 shares of the company traded hands, compared to its average volume of 21,182,530. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 20.09, a P/E/G ratio of 1.27 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The business has a fifty day moving average price of $169.65 and a 200-day moving average price of $175.71.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOG shares. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. UBS Group reduced their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. KeyCorp reduced their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $206.38.

Alphabet 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.