Summit Place Financial Advisors LLC Purchases 1,125 Shares of Alphabet Inc. (NASDAQ:GOOG)

Summit Place Financial Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 104.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,199 shares of the information services provider’s stock after buying an additional 1,125 shares during the period. Summit Place Financial Advisors LLC’s holdings in Alphabet were worth $344,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Ethos Financial Group LLC increased its holdings in Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after acquiring an additional 53 shares during the last quarter. Hutchinson Capital Management CA grew its position in shares of Alphabet by 1.5% during the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after purchasing an additional 54 shares in the last quarter. M. Kulyk & Associates LLC increased its holdings in shares of Alphabet by 0.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock worth $1,227,000 after purchasing an additional 56 shares during the last quarter. Retirement Planning Co of New England Inc. lifted its position in shares of Alphabet by 0.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock worth $3,043,000 after buying an additional 56 shares in the last quarter. Finally, Concentrum Wealth Management lifted its position in shares of Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock worth $3,300,000 after buying an additional 57 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $180.22 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $2.19 trillion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company’s 50-day moving average is $169.65 and its 200 day moving average is $175.71.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares in the company, valued at $44,695,000. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOG. Scotiabank reduced their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, UBS Group dropped 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. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.38.

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.