Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Summit Global Investments

Summit Global Investments increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 45.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,109 shares of the information services provider’s stock after buying an additional 15,064 shares during the quarter. Summit Global Investments’ holdings in Alphabet were worth $6,780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cranbrook Wealth Management LLC grew its stake in shares of Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after purchasing an additional 70 shares during the period. Manchester Financial Inc. grew its stake in shares of Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after purchasing an additional 74 shares during the period. Atticus Wealth Management LLC grew its stake in shares of Alphabet by 1.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after purchasing an additional 75 shares during the period. Congress Park Capital LLC grew its stake in shares of Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after purchasing an additional 76 shares during the period. Finally, Emerald Advisors LLC grew its stake in shares of Alphabet by 0.6% during the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded up $0.53 during midday trading on Friday, reaching $168.99. 22,767,056 shares of the company’s stock traded hands, compared to its average volume of 22,353,938. The company has a fifty day simple moving average of $150.99 and a two-hundred day simple moving average of $143.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The company has a market cap of $2.10 trillion, a P/E ratio of 25.92, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 1 year low of $104.70 and a 1 year high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the company earned $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GOOG shares. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $165.67.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock valued at $40,382,765 in the last three months. 12.99% of the stock is currently owned by insiders.

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.