Alphabet Inc. $GOOG Stock Bought by Summa Corp.

Key Points

• Summa Corp. increased its Alphabet stake by 109% in the third quarter, adding 5,131 shares to hold 9,837 shares valued at about $3.35 million.
• Analyst sentiment is broadly positive: Alphabet has a MarketBeat consensus rating of “Moderate Buy” and an average price target of $413.38.
• Alphabet reported quarterly EPS of $2.12, below the $3.01 consensus estimate, and revenue of $127.58 billion, slightly under forecasts, though revenue rose 24.7% year over year.

Summa Corp. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 109.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,837 shares of the information services provider's stock after acquiring an additional 5,131 shares during the quarter. Alphabet makes up 0.7% of Summa Corp.'s holdings, making the stock its 19th biggest holding. Summa Corp.'s holdings in Alphabet were worth $3,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morton Brown Family Wealth LLC increased its position in Alphabet by 135.5% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 73 shares of the information services provider's stock valued at $25,000 after purchasing an additional 42 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $29,000. Livelsberger Financial Advisory acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $37,000. Toth Financial Advisory Corp bought a new stake in shares of Alphabet in the 2nd quarter valued at $41,000. Finally, Timbuktu Capital Management LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at $46,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Susquehanna reiterated a "positive" rating and set a $400.00 price objective on shares of Alphabet in a research report on Thursday, October 29th. Evercore restated an "outperform" rating and issued a $435.00 target price on shares of Alphabet in a report on Thursday, October 29th. China Renaissance cut their price target on shares of Alphabet from $485.00 to $445.00 and set a "buy" rating on the stock in a research report on Friday, July 24th. HSBC set a $515.00 price target on shares of Alphabet in a research report on Friday, August 14th. Finally, Bank of America reissued a "buy" rating on shares of Alphabet in a research report on Thursday, October 29th. Six research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $413.38.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is backing financing for TeraWulf’s data-center project tied to Anthropic’s long-term leases. The support could help secure infrastructure for AI demand, though it also exposes Google to a contingent commitment if Anthropic defaults. Article: Google's Credit Backstop May Be TeraWulf's Biggest Advantage
• Positive Sentiment: Waymo plans to expand its robotaxi fleet in Nashville by year-end, offering a potential growth signal for Alphabet’s autonomous-driving business. Article: Lyft to expand Waymo robotaxi fleet in Nashville by year-end
• Negative Sentiment: Google, Meta and TikTok sued California’s attorney general to block a law restricting features deemed addictive for under-16 users. The dispute adds regulatory uncertainty and scrutiny of Google’s services for young people. Article: Meta, Google, and TikTok sue California AG over teen social media law
• Negative Sentiment: Parents have sued Google, alleging a student used an AI chat on a school Chromebook while planning a suicide attempt. The claim is unproven, but it could heighten concerns about AI safety, liability and reputational risk. Article: Google faces claims student used AI chat on US school laptop to plan suicide attempt
• Negative Sentiment: Several law firms publicized a securities class action concerning investors who bought Alphabet shares from May 19 to July 16, alleging misleading statements about Gemini 3.5 Pro’s launch timing. The allegations have not been proven, but add legal overhang. Article: Rosen Law Firm investor notice

Alphabet Price Performance

Alphabet stock opened at $281.74 on Friday. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.87 and a beta of 1.21. Alphabet Inc. has a 52-week low of $271.41 and a 52-week high of $404.47. The stock's 50 day moving average price is $330.86 and its two-hundred day moving average price is $337.20. 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 (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.89). The company had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The business's revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.87 EPS. On average, equities analysts predict that Alphabet Inc. will post 19.80 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 83 shares of the firm's stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares in the company, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 247 shares of company stock worth $79,238 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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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