Summit Wealth Group LLC Co. Trims Stock Position in Alphabet Inc. $GOOG

Key Points

• Summit Wealth Group sharply reduced its Alphabet stake by 89.9% in the fourth quarter, selling 53,013 shares and ending with 5,926 shares worth about $1.86 million.
• Alphabet’s latest earnings beat Wall Street expectations, with EPS of $5.11 on revenue of $109.9 billion, both ahead of estimates and up strongly from a year earlier.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly bullish with an average Buy rating and a consensus target price of about $372.65.

Summit Wealth Group LLC Co. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 89.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,926 shares of the information services provider's stock after selling 53,013 shares during the quarter. Summit Wealth Group LLC Co.'s holdings in Alphabet were worth $1,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOG. Tradewinds LLC. lifted its stake in shares of Alphabet by 2,134.8% during the third quarter. Tradewinds LLC. now owns 45,098 shares of the information services provider's stock worth $10,984,000 after buying an additional 43,080 shares during the period. Kathmere Capital Management LLC lifted its stake in shares of Alphabet by 8.5% during the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock worth $9,381,000 after buying an additional 2,341 shares during the period. Atlantic Union Bankshares Corp lifted its stake in shares of Alphabet by 31.3% during the third quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider's stock worth $86,345,000 after buying an additional 84,553 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its stake in shares of Alphabet by 0.9% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock worth $53,920,000 after buying an additional 2,009 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Alphabet by 7.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock worth $19,060,000 after buying an additional 4,239 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the transaction, the chief executive officer owned 1,642,060 shares of the company's stock, valued at $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $303.41, for a total transaction of $318,580.50. Following the transaction, the director directly owned 4,631 shares of the company's stock, valued at approximately $1,405,091.71. This trade represents a 18.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,481 shares of company stock valued at $27,422,061 over the last quarter. Insiders own 12.99% of the company's stock.

Alphabet Trading Down 1.1%

Shares of Alphabet stock opened at $379.38 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a fifty day moving average price of $335.54 and a 200 day moving average price of $320.81. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The stock has a market cap of $4.60 trillion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. During the same quarter last year, the company posted $2.81 earnings per share. The firm's revenue was up 21.8% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio is 6.41%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Recent commentary says Alphabet was one of the biggest winners among the Mag 7 this earnings season, helped by accelerating Google Cloud sales and broader AI-driven strength. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Analysts highlighted Alphabet’s new AI ad formats and shopping tools as potential catalysts for stronger search monetization, higher conversion rates, and increased ad spending. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Alphabet also announced a large $15 billion data center and AI infrastructure investment in Missouri, reinforcing investor confidence in its cloud and AI buildout. Google Deepens Missouri Roots with New Data Center, Energy, and Community Investments
• Neutral Sentiment: Google unveiled new AI search and agent features at I/O, which could improve engagement over time, but the rollout also raised concerns about complexity and possible disruption to the traditional search experience. You can no longer Google the word ‘disregard’
• Neutral Sentiment: Waymo temporarily paused some robotaxi and freeway services after safety issues in flooded roads and construction zones; while this is not core to Alphabet’s profits, it adds execution risk and negative headlines. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Alphabet has appealed the U.S. search-monopoly ruling, keeping antitrust overhang and potential remedies in focus for investors. Google appeals US court ruling on search monopoly

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GOOG shares. Truist Financial set a $385.00 price objective on shares of Alphabet in a research note on Wednesday, April 22nd. Pivotal Research reiterated a "buy" rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Needham & Company LLC set a $400.00 price objective on shares of Alphabet and gave the stock a "buy" rating in a research note on Friday, March 13th. Scotiabank reiterated an "outperform" rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Monday, April 20th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $372.65.

Alphabet Company Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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