Summa Corp. Has $1.49 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Summa Corp. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,868 shares of the information services provider’s stock after selling 500 shares during the quarter. Alphabet accounts for 0.7% of Summa Corp.’s portfolio, making the stock its 15th biggest position. Summa Corp.’s holdings in Alphabet were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Milestone Asset Management LLC raised its stake in Alphabet by 7.9% in the 4th quarter. Milestone Asset Management LLC now owns 4,034 shares of the information services provider’s stock valued at $764,000 after acquiring an additional 296 shares during the period. Capstone Capital LLC purchased a new stake in Alphabet in the fourth quarter valued at approximately $227,000. Kaufman Rossin Wealth LLC bought a new position in Alphabet in the fourth quarter valued at $273,000. Foster & Motley Inc. grew its position in Alphabet by 6.7% during the fourth quarter. Foster & Motley Inc. now owns 10,914 shares of the information services provider’s stock valued at $2,066,000 after acquiring an additional 687 shares during the last quarter. Finally, VanderPol Investments L.L.C. boosted its position in Alphabet by 11.6% during the fourth quarter. VanderPol Investments L.L.C. now owns 1,417 shares of the information services provider’s stock valued at $268,000 after buying an additional 147 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock worth $16,600,078 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.1 %

NASDAQ GOOGL opened at $191.60 on Friday. The company has a fifty day moving average of $190.83 and a 200 day moving average of $174.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.35 trillion, a PE ratio of 25.41, a P/E/G ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Citigroup lowered their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday. KeyCorp lifted their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Finally, Roth Mkm boosted their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

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.