Summit Wealth Partners LLC Purchases 6,677 Shares of Alphabet Inc. $GOOGL

Summit Wealth Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 406.4% in the 1st quarter, Holdings Channel reports. The firm owned 8,320 shares of the information services provider’s stock after acquiring an additional 6,677 shares during the period. Summit Wealth Partners LLC’s holdings in Alphabet were worth $2,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EMC Capital Management acquired a new position in shares of Alphabet during the 4th quarter worth $33,000. Lifetime Wealth Management P.C. acquired a new stake in Alphabet in the fourth quarter valued at about $32,000. PMV Capital Advisers LLC bought a new position in Alphabet in the fourth quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the fourth quarter valued at about $38,000. Finally, Bard Associates Inc. acquired a new position in Alphabet during the fourth quarter worth about $52,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock opened at $337.39 on Friday. The company has a fifty day moving average price of $368.94 and a 200-day moving average price of $332.88. The company has a market capitalization of $4.09 trillion, a P/E ratio of 25.74, a PEG ratio of 1.47 and a beta of 1.23. Alphabet Inc. has a 52-week low of $171.73 and a 52-week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. As a group, equities analysts expect 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. Investors of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date was Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Roth Mkm restated a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. Oppenheimer upped their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Barclays restated a “buy” rating on shares of Alphabet in a research report on Friday, May 29th. Morgan Stanley boosted their target price on shares of Alphabet from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, CICC Research upped their price target on shares of Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
• Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here’s Who the Real Winner Is.
• Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
• Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 151,523 shares of company stock worth $4,863,526. 11.61% of the stock is owned by company insiders.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.