Alphabet Inc. $GOOGL Shares Purchased by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 39.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,615 shares of the information services provider’s stock after acquiring an additional 5,235 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in Alphabet were worth $6,405,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Titleist Asset Management LLC lifted its stake in shares of Alphabet by 6.4% in the third quarter. Titleist Asset Management LLC now owns 34,613 shares of the information services provider’s stock worth $11,909,000 after buying an additional 2,096 shares in the last quarter. Elefante Mark B lifted its stake in Alphabet by 4.5% in the 2nd quarter. Elefante Mark B now owns 43,733 shares of the information services provider’s stock worth $15,629,000 after purchasing an additional 1,897 shares in the last quarter. Nwam LLC grew its position in shares of Alphabet by 19.6% in the first quarter. Nwam LLC now owns 49,128 shares of the information services provider’s stock valued at $14,127,000 after purchasing an additional 8,055 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of Alphabet by 287.4% in the first quarter. WCM Investment Management LLC now owns 3,886 shares of the information services provider’s stock valued at $1,063,000 after purchasing an additional 2,883 shares during the last quarter. Finally, Spinnaker Investment Group LLC boosted its stake in Alphabet by 51.4% during the second quarter. Spinnaker Investment Group LLC now owns 4,759 shares of the information services provider’s stock worth $1,701,000 after buying an additional 1,616 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Royal Bank Of Canada reduced their price objective on shares of Alphabet from $425.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $480.00 target price (up from $465.00) on shares of Alphabet in a report on Tuesday, October 20th. Freedom Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Finally, Susquehanna cut their price target on shares of Alphabet from $460.00 to $400.00 and set a “positive” rating on the stock in a research note on Thursday, October 29th. Five research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $412.51.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Anthropic investment and cloud exposure: Google plans to invest $10 billion in Anthropic at its IPO, adding to Alphabet’s existing stake. Anthropic also has sizable Google Cloud commitments, potentially supporting cloud revenue through computing and marketplace services. Article: Anthropic’s Trillion-Dollar IPO Could Give Cloud Giants a Double Win
• Positive Sentiment: AI chips and cloud growth: Google introduced two specialized TPU variants for AI workloads, a move that could reduce reliance on outside chips and broaden Google Cloud’s appeal. Separate coverage highlighted strong Cloud revenue and improved operating margins. Article: Google broadens its AI hardware portfolio Article: Sundar Pichai Just Delivered Stunning News About Google Cloud
• Neutral Sentiment: Pixel Tag launch: Google began selling its $30 Android-compatible item tracker, expanding its consumer hardware lineup, though the immediate financial impact is unclear. Article: Pixel Tag is now available
• Negative Sentiment: AI spending and monetization concerns: Coverage framed accelerating AI investment as a risk if returns do not justify the cost. JPMorgan also removed Alphabet from its analyst focus list, citing slower AI-search monetization and substantial infrastructure spending, while retaining an Overweight rating. Article: Alphabet investors face a new reality as Google’s AI spending accelerates Article: JPMorgan Just Removed Alphabet From Its Analyst Focus List
• Negative Sentiment: Securities lawsuit: Multiple law firms publicized a pending class action alleging misrepresentations about the Gemini 3.5 Pro launch timeline. Investors have until around Dec. 1 to seek lead-plaintiff status; the allegations remain claims, not findings of liability. Article: Investors Have Opportunity to Lead Alphabet Securities Fraud Lawsuit

Alphabet Price Performance

Shares of GOOGL opened at $287.38 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $330.72 and its 200-day simple moving average is $338.55. The firm has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.87 and a beta of 1.23. Alphabet Inc. has a twelve month low of $270.70 and a twelve month high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The business had revenue of $127.58 billion for the quarter, compared to analysts’ expectations of $127.96 billion. Equities analysts forecast that Alphabet Inc. will post 19.81 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is 4.59%.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 83 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the transaction, the director owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 247 shares of company stock valued at $79,238 in the last three months. Corporate insiders own 11.61% of the company’s stock.

About Alphabet

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.