Summit Trail Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,367 shares of the information services provider’s stock after acquiring an additional 575 shares during the period. Alphabet accounts for about 0.6% of Summit Trail Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Summit Trail Advisors LLC’s holdings in Alphabet were worth $14,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp raised its holdings in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Alphabet by 1,955.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after buying an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Alphabet by 1,896.9% in the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after buying an additional 55,153,448 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $105.57 on Monday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.43. The firm’s 50-day simple moving average is $101.61 and its 200 day simple moving average is $96.85. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.34 trillion, a P/E ratio of 23.51, a P/E/G ratio of 1.34 and a beta of 1.10.
Insiders Place Their Bets
In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 138,039 shares of company stock worth $14,153,031. 11.44% of the stock is owned by corporate insiders.
Analyst Ratings Changes
GOOGL has been the topic of several research reports. Wolfe Research raised their price target on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. MKM Partners raised their price target on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $130.00 price target on shares of Alphabet in a research report on Friday, February 10th. Three research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $130.06.
About Alphabet
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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