Alphabet Inc. $GOOG Stock Purchased by Summa Corp.

Summa Corp. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 109.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,837 shares of the information services provider’s stock after acquiring an additional 5,131 shares during the period. Alphabet makes up 0.7% of Summa Corp.’s holdings, making the stock its 19th biggest holding. Summa Corp.’s holdings in Alphabet were worth $3,352,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Providence Wealth Advisors LLC boosted its stake in shares of Alphabet by 0.3% in the 1st quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock worth $3,094,000 after buying an additional 29 shares during the last quarter. One Charles Private Wealth Services LLC grew its stake in shares of Alphabet by 0.6% during the 1st quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider’s stock worth $1,390,000 after acquiring an additional 29 shares during the period. Wisconsin Wealth Advisors LLC boosted its position in Alphabet by 1.3% during the second quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider’s stock worth $785,000 after purchasing an additional 29 shares during the period. Cypress Financial Planning LLC grew its stake in Alphabet by 1.3% in the 3rd quarter. Cypress Financial Planning LLC now owns 2,198 shares of the information services provider’s stock valued at $749,000 after buying an additional 29 shares in the last quarter. Finally, Johnson Wealth Management LLC raised its stake in shares of Alphabet by 1.7% during the 2nd quarter. Johnson Wealth Management LLC now owns 1,842 shares of the information services provider’s stock valued at $651,000 after purchasing an additional 30 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOOG shares. Evercore reaffirmed an “outperform” rating and issued a $435.00 price target on shares of Alphabet in a report on Thursday, October 29th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, October 29th. Wedbush assumed coverage on shares of Alphabet in a report on Thursday, July 16th. They issued an “outperform” rating and a $445.00 price target on the stock. Moffett Nathanson lowered their price objective on shares of Alphabet from $380.00 to $370.00 and set a “buy” rating on the stock in a research report on Wednesday, September 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $400.00 price objective (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $413.38.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is backing financing for TeraWulf’s data-center project tied to Anthropic’s long-term leases. The support could help secure infrastructure for AI demand, though it also exposes Google to a contingent commitment if Anthropic defaults. Article: Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
• Positive Sentiment: Waymo plans to expand its robotaxi fleet in Nashville by year-end, offering a potential growth signal for Alphabet’s autonomous-driving business. Article: Lyft to expand Waymo robotaxi fleet in Nashville by year-end
• Negative Sentiment: Google, Meta and TikTok sued California’s attorney general to block a law restricting features deemed addictive for under-16 users. The dispute adds regulatory uncertainty and scrutiny of Google’s services for young people. Article: Meta, Google, and TikTok sue California AG over teen social media law
• Negative Sentiment: Parents have sued Google, alleging a student used an AI chat on a school Chromebook while planning a suicide attempt. The claim is unproven, but it could heighten concerns about AI safety, liability and reputational risk. Article: Google faces claims student used AI chat on US school laptop to plan suicide attempt
• Negative Sentiment: Several law firms publicized a securities class action concerning investors who bought Alphabet shares from May 19 to July 16, alleging misleading statements about Gemini 3.5 Pro’s launch timing. The allegations have not been proven, but add legal overhang. Article: Rosen Law Firm investor notice

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 247 shares of company stock worth $79,238 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $281.74 on Friday. The firm has a market capitalization of $3.45 trillion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. Alphabet Inc. has a 12 month low of $271.41 and a 12 month high of $404.47. The business’s 50-day moving average price is $330.86 and its 200-day moving average price is $337.20.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.89). The firm had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.87 EPS. Sell-side analysts forecast that Alphabet Inc. will post 19.80 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 4.59%.

Alphabet Profile

Alphabet Inc is a technology holding company best known as the parent organization of Google. Founded in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, online services, communications, artificial intelligence, and other emerging areas.

Google’s principal products and services include its internet search engine, digital advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play, and Google Workspace. The company also provides cloud computing, data storage, cybersecurity, productivity, and artificial intelligence services through Google Cloud.