By otakuyassine3@gmail.com 
Summit Wealth & Retirement Planning Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.4% in the 4th quarter, Holdings Channel reports. The firm owned 5,444 shares of the information services provider’s stock after buying an additional 280 shares during the quarter. Alphabet comprises approximately 0.3% of Summit Wealth & Retirement Planning Inc.’s investment portfolio, making the stock its 26th biggest position. Summit Wealth & Retirement Planning Inc.’s holdings in Alphabet were worth $1,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $27,000. Weiss Asset Management LP bought a new position in shares of Alphabet during the third quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC lifted its holdings in shares of Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the period. 27.26% of the stock is owned by institutional investors.
Alphabet Price Performance
Shares of GOOG stock opened at $185.43 on Thursday. The stock has a 50-day moving average price of $193.70 and a 200 day moving average price of $176.40. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.27 trillion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,529 shares of company stock worth $16,600,078. Insiders own 12.99% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on GOOG shares. UBS Group lifted their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Scotiabank raised their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.13.
Read Our Latest Research Report on Alphabet
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.
Further Reading
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