Alphabet Inc. $GOOGL Shares Acquired by Summit Wealth Group LLC Co.

Key Points

• Summit Wealth Group increased its Alphabet stake by 39.1% in the third quarter, adding 5,235 shares to hold 18,615 shares worth about $6.4 million.
• Alphabet reported quarterly EPS of $2.12, below the $3.02 analyst consensus; revenue of $127.58 billion was also slightly below expectations.
• Analysts maintain a consensus Buy rating with an average price target of $412.51. Alphabet also declared a $0.22 quarterly dividend per share.

Summit Wealth Group LLC Co. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 39.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,615 shares of the information services provider's stock after purchasing an additional 5,235 shares during the quarter. Summit Wealth Group LLC Co.'s holdings in Alphabet were worth $6,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. EMC Capital Management purchased a new position in shares of Alphabet during the 2nd quarter worth about $35,000. Core Capital Management & Research inc. bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $41,000. Intelligent Financial Strategies bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $41,000. Premier Financial Group bought a new position in Alphabet in the 2nd quarter valued at $45,000. Finally, Graney & King LLC lifted its position in shares of Alphabet by 38.5% during the second quarter. Graney & King LLC now owns 180 shares of the information services provider's stock worth $64,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the sale, the director owned 19,076 shares of the company's stock, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 247 shares of company stock valued at $79,238 over the last three months. Company insiders own 11.61% of the company's stock.

Alphabet Stock Down 0.3%

Alphabet stock opened at $287.38 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. The stock has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.87 and a beta of 1.23. Alphabet Inc. has a 1-year low of $270.70 and a 1-year high of $408.61. The business has a fifty day moving average price of $330.72 and a 200-day moving average price of $338.55.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $3.02 by ($0.90). The business had revenue of $127.58 billion during the quarter, compared to analysts' expectations of $127.96 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. Equities research analysts forecast that Alphabet Inc. will post 19.81 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $420.00 to $425.00 and gave the stock an "overweight" rating in a report on Thursday, October 15th. Benchmark reissued a "buy" rating on shares of Alphabet in a research note on Thursday, October 1st. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $325.00 target price (down from $385.00) on shares of Alphabet in a research report on Thursday, October 29th. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company cut their target price on shares of Alphabet from $417.00 to $371.00 and set an "overweight" rating on the stock in a research report on Friday, October 30th. Five analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $412.51.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Anthropic investment and cloud exposure: Google plans to invest $10 billion in Anthropic at its IPO, adding to Alphabet’s existing stake. Anthropic also has sizable Google Cloud commitments, potentially supporting cloud revenue through computing and marketplace services. Article: Anthropic's Trillion-Dollar IPO Could Give Cloud Giants a Double Win
• Positive Sentiment: AI chips and cloud growth: Google introduced two specialized TPU variants for AI workloads, a move that could reduce reliance on outside chips and broaden Google Cloud’s appeal. Separate coverage highlighted strong Cloud revenue and improved operating margins. Article: Google broadens its AI hardware portfolio Article: Sundar Pichai Just Delivered Stunning News About Google Cloud
• Neutral Sentiment: Pixel Tag launch: Google began selling its $30 Android-compatible item tracker, expanding its consumer hardware lineup, though the immediate financial impact is unclear. Article: Pixel Tag is now available
• Negative Sentiment: AI spending and monetization concerns: Coverage framed accelerating AI investment as a risk if returns do not justify the cost. JPMorgan also removed Alphabet from its analyst focus list, citing slower AI-search monetization and substantial infrastructure spending, while retaining an Overweight rating. Article: Alphabet investors face a new reality as Google's AI spending accelerates Article: JPMorgan Just Removed Alphabet From Its Analyst Focus List
• Negative Sentiment: Securities lawsuit: Multiple law firms publicized a pending class action alleging misrepresentations about the Gemini 3.5 Pro launch timeline. Investors have until around Dec. 1 to seek lead-plaintiff status; the allegations remain claims, not findings of liability. Article: Investors Have Opportunity to Lead Alphabet Securities Fraud Lawsuit

Alphabet Company Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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