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

Summit Wealth Partners LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,290 shares of the information services provider’s stock after acquiring an additional 200 shares during the quarter. Summit Wealth Partners LLC’s holdings in Alphabet were worth $420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 19.7% in 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 buying an additional 13,876,534 shares during the period. Swedbank AB acquired a new stake in shares of Alphabet during the first quarter valued at approximately $1,378,708,000. Capital International Investors boosted its position in Alphabet by 9.3% during the 1st 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. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Alphabet by 51.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after acquiring an additional 2,190,795 shares in the last quarter. Finally, Vima LLC grew its stake in Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after buying an additional 2,000,000 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $168.42 on Wednesday. The company’s 50-day moving average price is $163.71 and its 200-day moving average price is $168.51. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued 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 return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

Several analysts have recently weighed in on GOOG shares. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Pivotal Research assumed coverage on Alphabet in a research note on Tuesday. They issued a “buy” rating and a $215.00 price target for the company. Oppenheimer cut their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.75.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. The disclosure for this sale can be found here. Insiders have sold a total of 193,725 shares of company stock valued at $31,933,031 in the last ninety days. 12.99% of the stock is currently owned by corporate 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.