Summit Wealth & Retirement Planning Inc. Has $639,000 Position in Alphabet Inc. (NASDAQ:GOOG)


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Summit Wealth & Retirement Planning Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 365 shares of the information services provider’s stock after selling 21 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Alphabet were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. Sigma Planning Corp grew its stake in shares of Alphabet by 1.6% during the fourth quarter. Sigma Planning Corp now owns 7,177 shares of the information services provider’s stock worth $12,573,000 after buying an additional 110 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Alphabet by 2.6% during the 4th quarter. Personal CFO Solutions LLC now owns 3,181 shares of the information services provider’s stock valued at $5,573,000 after acquiring an additional 81 shares in the last quarter. Capital Management Associates NY grew its position in Alphabet by 32.5% during the 4th quarter. Capital Management Associates NY now owns 1,222 shares of the information services provider’s stock worth $2,141,000 after acquiring an additional 300 shares during the last quarter. Mawer Investment Management Ltd. increased its holdings in Alphabet by 4.0% in the 4th quarter. Mawer Investment Management Ltd. now owns 454,762 shares of the information services provider’s stock worth $796,637,000 after purchasing an additional 17,538 shares in the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in Alphabet in the fourth quarter valued at about $203,000. Institutional investors and hedge funds own 31.94% of the company’s stock.

Shares of GOOG stock traded down $22.04 during trading hours on Tuesday, hitting $2,042.84. 64,468 shares of the company were exchanged, compared to its average volume of 1,637,658. The company has a 50 day simple moving average of $1,922.66 and a two-hundred day simple moving average of $1,706.52. The firm has a market cap of $1.38 trillion, a P/E ratio of 38.82, a P/E/G ratio of 1.66 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. Alphabet Inc. has a fifty-two week low of $1,013.54 and a fifty-two week high of $2,152.68.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $15.91 by $6.39. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The business had revenue of $56.90 billion for the quarter, compared to analyst estimates of $52.86 billion. During the same period in the prior year, the firm earned $15.35 earnings per share. Alphabet’s revenue was up 23.5% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 52.19 EPS for the current fiscal year.

In other Alphabet news, Director John L. Hennessy sold 55 shares of Alphabet stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $1,813.27, for a total transaction of $99,729.85. Following the transaction, the director now owns 613 shares of the company’s stock, valued at approximately $1,111,534.51. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann Mather sold 22 shares of the business’s stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $1,774.37, for a total value of $39,036.14. Following the completion of the transaction, the director now owns 1,144 shares in the company, valued at approximately $2,029,879.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,999 shares of company stock valued at $5,434,607. 12.99% of the stock is currently owned by company insiders.

GOOG has been the subject of several recent research reports. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, February 3rd. Oppenheimer restated a “buy” rating and issued a $1,800.00 price target on shares of Alphabet in a research report on Friday, October 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. JPMorgan Chase & Co. restated a “buy” rating and issued a $2,390.00 price objective (up from $2,050.00) on shares of Alphabet in a report on Wednesday, February 3rd. Finally, Mizuho raised their target price on Alphabet from $2,100.00 to $2,350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. Two equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $2,184.71.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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