Summit Wealth Group LLC Sells 529 Shares of Alphabet Inc. (NASDAQ:GOOG)

Summit Wealth Group LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,847 shares of the information services provider’s stock after selling 529 shares during the period. Summit Wealth Group LLC’s holdings in Alphabet were worth $733,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. M&G PLC acquired a new position in shares of Alphabet in the third quarter valued at $2,240,000. GPS Wealth Strategies Group LLC increased its holdings in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 1,041 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares during the period. Finally, Requisite Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $927,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.2 %

Alphabet stock opened at $172.22 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company’s 50-day moving average is $192.17 and its 200-day moving average is $177.65. The firm has a market capitalization of $2.10 trillion, a PE ratio of 21.39, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Wall Street Analyst Weigh In

GOOG has been the subject of several recent research reports. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer upped their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,309 shares of company stock valued at $25,057,490 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

About Alphabet

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.