Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Summit Wealth Group LLC

Summit Wealth Group LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,847 shares of the information services provider’s stock after selling 529 shares during the quarter. Summit Wealth Group LLC’s holdings in Alphabet were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Sterling Financial Planning Inc. boosted its holdings in Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after buying an additional 50 shares in the last quarter. Arlington Trust Co LLC lifted its position in shares of Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after acquiring an additional 52 shares during the last quarter. Harrell Investment Partners LLC boosted its stake in shares of Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 53 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares during the last quarter. Finally, Tempus Wealth Planning LLC grew its holdings in shares of Alphabet by 1.7% in the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock worth $636,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Finally, Wedbush reissued an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Up 1.2 %

GOOG stock opened at $172.22 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.10 trillion, a PE ratio of 21.39, a PEG ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The company has a fifty day simple moving average of $192.17 and a 200 day simple moving average of $177.65.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,309 shares of company stock worth $25,057,490. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.