Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Summit Wealth & Retirement Planning Inc.

Summit Wealth & Retirement Planning Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,444 shares of the information services provider’s stock after acquiring an additional 280 shares during the quarter. Alphabet accounts for about 0.3% of Summit Wealth & Retirement Planning Inc.’s portfolio, making the stock its 26th biggest holding. Summit Wealth & Retirement Planning Inc.’s holdings in Alphabet were worth $1,037,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOG. Exchange Traded Concepts LLC lifted its holdings in Alphabet by 42.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,511 shares of the information services provider’s stock valued at $1,089,000 after acquiring an additional 1,953 shares during the last quarter. Creative Planning lifted its holdings in Alphabet by 6.4% in the 3rd quarter. Creative Planning now owns 1,544,297 shares of the information services provider’s stock valued at $256,177,000 after acquiring an additional 92,556 shares during the last quarter. Swedbank AB lifted its holdings in Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after acquiring an additional 51,226 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC lifted its holdings in Alphabet by 1.7% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 4,725 shares of the information services provider’s stock valued at $796,000 after acquiring an additional 77 shares during the last quarter. Finally, Prospect Financial Services LLC lifted its holdings in Alphabet by 2.3% in the 3rd quarter. Prospect Financial Services LLC now owns 37,750 shares of the information services provider’s stock valued at $6,311,000 after acquiring an additional 859 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.9 %

NASDAQ:GOOG opened at $185.43 on Thursday. The stock’s 50 day moving average price is $193.70 and its 200 day moving average price is $176.40. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The company has a market capitalization of $2.27 trillion, a P/E ratio of 23.03, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GOOG shares. Barclays upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

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.