Summit Wealth Partners LLC Acquires 8,201 Shares of Alphabet Inc. $GOOG

Key Points

• Summit Wealth Partners significantly increased its stake in Alphabet, buying 8,201 additional shares in Q1 and lifting its holdings by 294.4% to 10,987 shares worth about $3.15 million.
• Alphabet reported strong quarterly results, posting $5.11 EPS versus the $2.68 consensus and revenue of $109.9 billion, with revenue up 21.8% year over year.
• Wall Street remains upbeat on GOOG, with a Buy consensus and an average price target of $376.78; the stock also pays a modest annualized dividend of $0.88, a 0.3% yield.

Summit Wealth Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 294.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,987 shares of the information services provider's stock after purchasing an additional 8,201 shares during the quarter. Summit Wealth Partners LLC's holdings in Alphabet were worth $3,152,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GOOG. Kathmere Capital Management LLC boosted its holdings in shares of Alphabet by 8.5% in the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock worth $9,381,000 after purchasing an additional 2,341 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its position in Alphabet by 0.9% in 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 last quarter. Gerber Kawasaki Wealth & Investment Management lifted its position in Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock worth $86,596,000 after buying an additional 2,850 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in 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. Finally, World Investment Advisors boosted its stake in Alphabet by 8.7% during the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider's stock worth $59,827,000 after buying an additional 15,280 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 0.3%

NASDAQ:GOOG opened at $344.91 on Thursday. The company has a market cap of $4.18 trillion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. Alphabet Inc. has a twelve month low of $168.56 and a twelve month high of $404.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $366.09 and a 200-day simple moving average of $331.78.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.81 earnings per share. Analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GOOG shares. Truist Financial set a $430.00 target price on shares of Alphabet in a research note on Monday, June 1st. Citigroup reaffirmed a "market outperform" rating on shares of Alphabet in a research note on Monday. Raymond James Financial reiterated a "strong-buy" rating and set a $425.00 price target on shares of Alphabet in a report on Thursday, April 30th. Pivotal Research reissued a "buy" rating and issued a $470.00 price objective (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Finally, KeyCorp reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $376.78.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will replace Verizon in the Dow, a move that can trigger index-related buying and highlights the company’s importance in large-cap tech. WSJ article
• Positive Sentiment: Analysts continue to point to Alphabet’s strong AI and cloud position, including rapid Google Cloud growth and rising enterprise demand for AI infrastructure. Zacks article
• Neutral Sentiment: YouTube settled a youth mental health lawsuit ahead of a broader social media trial, removing one legal overhang but not changing the core investment story. Reuters article
• Negative Sentiment: Several reports say key Gemini researchers are leaving Google for rivals like Anthropic, reinforcing investor concerns about AI talent retention. TechCrunch article
• Negative Sentiment: Google reportedly delayed the Gemini 3.5 Pro release to July, which may raise questions about execution in the AI race. TipRanks article
• Negative Sentiment: Some commentary also points to broader pressure on Alphabet from an AI selloff and worries that Google’s core search dominance could face more competition in the AI era. CNBC article

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 617 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frances Arnold sold 102 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director owned 18,721 shares of the company's stock, valued at $7,132,701. This represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 160,516 shares of company stock valued at $7,344,604. 12.99% of the stock is owned by corporate insiders.

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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