Summitry LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Summitry LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 811 shares of the information services provider’s stock after selling 114 shares during the quarter. Summitry LLC’s holdings in Alphabet were worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shilanski & Associates Inc. grew its holdings in Alphabet by 1.8% in the 1st quarter. Shilanski & Associates Inc. now owns 450 shares of the information services provider’s stock valued at $1,257,000 after buying an additional 8 shares during the period. Minot Wealth Management LLC grew its holdings in shares of Alphabet by 3.9% during the 1st quarter. Minot Wealth Management LLC now owns 721 shares of the information services provider’s stock worth $2,014,000 after purchasing an additional 27 shares during the period. Thomasville National Bank grew its holdings in shares of Alphabet by 2.0% during the 1st quarter. Thomasville National Bank now owns 13,586 shares of the information services provider’s stock worth $37,946,000 after purchasing an additional 261 shares during the period. Mcrae Capital Management Inc. grew its holdings in shares of Alphabet by 6.7% during the 1st quarter. Mcrae Capital Management Inc. now owns 111 shares of the information services provider’s stock worth $310,000 after purchasing an additional 7 shares during the period. Finally, InTrack Investment Management Inc grew its holdings in shares of Alphabet by 23.7% during the 1st quarter. InTrack Investment Management Inc now owns 919 shares of the information services provider’s stock worth $2,568,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 31.20% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $2,298.63, for a total transaction of $96,542.46. Following the completion of the transaction, the chief accounting officer now directly owns 1,181 shares in the company, valued at approximately $2,714,682.03. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $2,298.63, for a total value of $96,542.46. Following the completion of the transaction, the chief accounting officer now directly owns 1,181 shares of the company’s stock, valued at approximately $2,714,682.03. The disclosure for this sale can be found here. Insiders sold a total of 42,383 shares of company stock worth $15,761,666 in the last three months. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOG. Wedbush reiterated an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Citigroup decreased their target price on Alphabet from $158.75 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 14th. Canaccord Genuity Group reduced their price target on Alphabet from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Evercore ISI reduced their price target on Alphabet from $165.00 to $155.50 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. Finally, Credit Suisse Group set a $143.00 price target on Alphabet in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.40.

Alphabet Stock Performance

GOOG stock opened at $118.22 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.56 trillion, a P/E ratio of 21.99, a P/E/G ratio of 1.92 and a beta of 1.07. Alphabet Inc. has a 12-month low of $102.21 and a 12-month high of $152.10. The stock’s 50 day simple moving average is $156.19 and its 200 day simple moving average is $138.46.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $26.24 by ($25.03). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the business earned $27.26 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 5.22 EPS for the current year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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