Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Summit Wealth Partners LLC

Summit Wealth Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,391 shares of the information services provider’s stock after purchasing an additional 101 shares during the period. Summit Wealth Partners LLC’s holdings in Alphabet were worth $400,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital International Investors increased its stake in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares during the period. JPMorgan Chase & Co. increased its holdings in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Capital World Investors increased its stake in shares of Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after purchasing an additional 636,008 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of several analyst reports. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Citigroup lifted their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday. UBS Group boosted their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Shares of GOOG stock opened at $172.65 on Friday. The firm has a fifty day moving average of $163.81 and a two-hundred day moving average of $170.43. The firm has a market cap of $2.13 trillion, a P/E ratio of 22.90, a P/E/G ratio of 1.31 and a beta of 1.04. Alphabet Inc. has a 1-year low of $128.11 and a 1-year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.83 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,244 shares of company stock worth $37,776,954. 12.99% of the stock is currently owned by insiders.

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.