11,351 Alphabet Inc. $GOOG Shares Bought by Summit Wealth Group LLC Co.

Key Points

• Summit Wealth Group increased its Alphabet stake by 123.8% in the third quarter, adding 11,351 shares and bringing its holdings to 20,520 shares, valued at about $6.99 million.
• Alphabet reported quarterly EPS of $2.12, below the $3.01 consensus estimate, while revenue rose 24.7% year over year to $127.58 billion, slightly under forecasts.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $413.38. Alphabet also announced a quarterly dividend of $0.22 per share.

Summit Wealth Group LLC Co. lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 123.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 20,520 shares of the information services provider's stock after acquiring an additional 11,351 shares during the quarter. Summit Wealth Group LLC Co.'s holdings in Alphabet were worth $6,992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Denali Advisors LLC grew its holdings in shares of Alphabet by 14.8% during the second quarter. Denali Advisors LLC now owns 105,988 shares of the information services provider's stock valued at $37,449,000 after buying an additional 13,700 shares during the last quarter. Heck Capital Advisors LLC increased its position in Alphabet by 298.2% during the second quarter. Heck Capital Advisors LLC now owns 22,229 shares of the information services provider's stock valued at $7,854,000 after acquiring an additional 16,647 shares during the last quarter. Montchanin Asset Management LLC purchased a new stake in Alphabet during the first quarter valued at $7,075,000. NBT Bank N.A. bought a new position in Alphabet in the third quarter valued at about $47,537,000. Finally, Sax Wealth Advisors LLC boosted its position in Alphabet by 13.3% in the second quarter. Sax Wealth Advisors LLC now owns 30,489 shares of the information services provider's stock worth $10,773,000 after purchasing an additional 3,575 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $287.30 on Thursday. The stock has a market capitalization of $3.51 trillion, a P/E ratio of 14.99, a P/E/G ratio of 0.84 and a beta of 1.21. The company's fifty day moving average price is $332.01 and its 200 day moving average price is $337.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a 1 year low of $271.41 and a 1 year high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.01 by ($0.89). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.97 billion. During the same quarter in the previous year, the firm posted $2.87 earnings per share. The company's quarterly revenue was up 24.7% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 19.80 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 4.59%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GOOG shares. Stifel Nicolaus set a $485.00 target price on Alphabet in a research report on Thursday, October 8th. TD Cowen reaffirmed a "buy" rating and set a $460.00 price objective (down from $485.00) on shares of Alphabet in a research note on Thursday, October 29th. Needham & Company LLC reiterated a "buy" rating on shares of Alphabet in a research report on Tuesday, October 27th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $325.00 price objective on shares of Alphabet in a research note on Thursday, October 29th. Finally, HSBC set a $515.00 target price on shares of Alphabet in a research note on Friday, August 14th. Six equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $413.38.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI momentum: A venture-capital investor ranked Alphabet’s Gemini as the leading AI model, supporting optimism about the company’s ability to compete in AI and potentially attract usage and spending. Top VC: The Best AI Models Take “80% Plus” of Spend. And Alphabet’s Gemini Just Ranked No. 1
• Positive Sentiment: Long-term infrastructure growth: Google plans to invest $15 billion in Malaysia over two years to expand data-center capacity and support regional AI and cloud demand. The investment could help grow future revenue, though it adds to near-term capital needs. Google to Invest $15 Billion in Malaysia Over Two Years
• Neutral Sentiment: Election-driven rally: Reports attributed the rebound in Alphabet and other mega-cap technology shares to a broad post-election market rally. The result may have eased some near-term concern about data-center policy, although regulatory uncertainty remains. Why Alphabet Stock Popped on Wednesday
• Negative Sentiment: Heavy AI investment weighs on cash flow: Recent coverage highlighted declining free cash flow and rising infrastructure costs, tempering the growth story. Investors remain focused on whether cloud and AI returns will justify the spending. Alphabet's Free Cash Flow Is Declining Faster Than Analysts Expected
• Negative Sentiment: School Search policy backlash and litigation: Google’s plan tying school access to Search with AI settings drew criticism from politicians and prompted competing search services to target schools. Separately, a securities class action alleges investors were misled about Gemini 3.5 Pro’s progress; the claims are allegations, but add legal and reputational uncertainty. Google faces backlash for plan that would turn off Search for schools that restrict AI

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the transaction, the director owned 19,076 shares in the company, valued at $6,494,424.20. The trade was a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 247 shares of company stock worth $79,238. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

Alphabet Inc is a technology holding company best known as the parent organization of Google. Founded in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, online services, communications, artificial intelligence, and other emerging areas.

Google's principal products and services include its internet search engine, digital advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play, and Google Workspace. The company also provides cloud computing, data storage, cybersecurity, productivity, and artificial intelligence services through Google Cloud.

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