Summit Wealth Partners LLC Boosts Stake in Alphabet Inc. $GOOG

Summit Wealth Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 294.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,987 shares of the information services provider’s stock after acquiring an additional 8,201 shares during the quarter. Summit Wealth Partners LLC’s holdings in Alphabet were worth $3,152,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GOOG. Ring Mountain Capital LLC grew its stake in Alphabet by 0.9% in the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after purchasing an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. boosted its holdings in shares of Alphabet by 1.9% in the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after buying an additional 30 shares in the last quarter. HRC Wealth Management LLC grew its position in shares of Alphabet by 1.0% in the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after buying an additional 31 shares during the last quarter. Certior Financial Group LLC raised its stake in shares of Alphabet by 3.5% during the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after acquiring an additional 31 shares in the last quarter. Finally, Synergy Investment Management LLC lifted its position in Alphabet by 0.8% during the fourth quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider’s stock valued at $1,294,000 after acquiring an additional 31 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 0.3%

NASDAQ GOOG opened at $344.91 on Thursday. Alphabet Inc. has a 12-month low of $168.56 and a 12-month high of $404.47. The company has a fifty day simple moving average of $366.09 and a two-hundred day simple moving average of $331.78. 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 market cap of $4.18 trillion, a P/E ratio of 26.31, a P/E/G ratio of 1.48 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating 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%. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.81 earnings per share. On average, analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend 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 presently 6.71%.

Insider Activity at Alphabet

In other Alphabet news, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 160,516 shares of company stock worth $7,344,604 in the last quarter. 12.99% of the stock is owned by insiders.

Key Alphabet News

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GOOG shares. JPMorgan Chase & Co. upped their price target on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. KeyCorp restated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Oppenheimer increased their price target on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $376.78.

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.