Summit Wealth & Retirement Planning Inc. Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Summit Wealth & Retirement Planning Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,110 shares of the information services provider’s stock after selling 100 shares during the period. Alphabet makes up approximately 0.7% of Summit Wealth & Retirement Planning Inc.’s portfolio, making the stock its 20th biggest position. Summit Wealth & Retirement Planning Inc.’s holdings in Alphabet were worth $2,024,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. TrinityPoint Wealth LLC boosted its stake in shares of Alphabet by 1.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 59,125 shares of the information services provider’s stock worth $8,259,000 after buying an additional 907 shares during the last quarter. MainStreet Investment Advisors LLC boosted its stake in shares of Alphabet by 4.0% in the 4th quarter. MainStreet Investment Advisors LLC now owns 148,129 shares of the information services provider’s stock worth $20,692,000 after buying an additional 5,730 shares during the last quarter. Brady Family Wealth LLC raised its holdings in shares of Alphabet by 8.9% in the 4th quarter. Brady Family Wealth LLC now owns 65,433 shares of the information services provider’s stock worth $9,140,000 after purchasing an additional 5,367 shares during the period. CBIZ Investment Advisory Services LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $272,000. Finally, PineStone Asset Management Inc. raised its holdings in shares of Alphabet by 22.6% in the 4th quarter. PineStone Asset Management Inc. now owns 5,070,862 shares of the information services provider’s stock worth $708,349,000 after purchasing an additional 934,817 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock worth $29,762,606 over the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GOOGL. Wells Fargo & Company lifted their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. Citigroup lifted their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Loop Capital reissued a “hold” rating and set a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Up 0.9 %

Shares of NASDAQ:GOOGL opened at $163.59 on Monday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The firm has a fifty day moving average of $164.72 and a 200 day moving average of $165.79. The firm has a market capitalization of $2.02 trillion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business earned $1.44 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Alphabet Company 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.