Summit Wealth Group LLC Co. Cuts Holdings in Alphabet Inc. $GOOG

Summit Wealth Group LLC Co. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 89.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,926 shares of the information services provider’s stock after selling 53,013 shares during the period. Summit Wealth Group LLC Co.’s holdings in Alphabet were worth $1,860,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Advisor Alliance increased its holdings in Alphabet by 0.4% in the fourth quarter. Independent Advisor Alliance now owns 283,385 shares of the information services provider’s stock valued at $88,926,000 after buying an additional 1,068 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of Alphabet by 12.3% during the fourth quarter. Legacy Financial Advisors Inc. now owns 28,936 shares of the information services provider’s stock worth $9,080,000 after purchasing an additional 3,173 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $542,000. World Investment Advisors increased its stake in shares of Alphabet by 8.7% during the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock worth $55,015,000 after purchasing an additional 15,280 shares in the last quarter. Finally, Rollins Financial Advisors LLC increased its stake in shares of Alphabet by 12.7% during the fourth quarter. Rollins Financial Advisors LLC now owns 2,223 shares of the information services provider’s stock worth $697,000 after purchasing an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on GOOG shares. Wells Fargo & Company raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Oppenheimer boosted their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Freedom Capital cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $372.65.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 955 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at approximately $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders sold a total of 226,481 shares of company stock valued at $27,422,061 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Alphabet

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

Alphabet Stock Performance

GOOG opened at $379.38 on Friday. The firm has a market capitalization of $4.60 trillion, a PE ratio of 28.94, a PEG ratio of 1.64 and a beta of 1.25. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The firm’s 50-day moving average price is $335.54 and its 200 day moving average price is $320.81. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share 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 analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Alphabet’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.81 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 6.41%.

About Alphabet

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.