SummitTX Capital L.P. Sells 27,599 Shares of Alphabet Inc. $GOOGL

SummitTX Capital L.P. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 91.3% during the 1st quarter, Holdings Channel reports. The firm owned 2,618 shares of the information services provider’s stock after selling 27,599 shares during the quarter. SummitTX Capital L.P.’s holdings in Alphabet were worth $753,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. NewEdge Wealth LLC boosted its holdings in shares of Alphabet by 11.8% in the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock worth $277,696,000 after buying an additional 93,293 shares during the last quarter. PFG Investments LLC raised its position in Alphabet by 2.6% in the first quarter. PFG Investments LLC now owns 89,299 shares of the information services provider’s stock worth $25,679,000 after acquiring an additional 2,269 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new position in Alphabet in the fourth quarter valued at about $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in Alphabet by 17.1% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider’s stock valued at $37,236,000 after acquiring an additional 17,415 shares during the last quarter. Finally, Victory Financial Group LLC grew its position in shares of Alphabet by 29.8% during the 4th quarter. Victory Financial Group LLC now owns 17,632 shares of the information services provider’s stock valued at $5,519,000 after acquiring an additional 4,048 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction on Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 600,547 shares of company stock worth $16,255,540. 11.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. Piper Sandler reiterated an “overweight” rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. Oppenheimer increased their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, The Goldman Sachs Group boosted their target price on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $419.86.

Alphabet Stock Performance

Shares of GOOGL stock opened at $377.65 on Wednesday. The stock has a market capitalization of $4.62 trillion, a P/E ratio of 18.97, a PEG ratio of 1.05 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $357.37 and its 200 day moving average is $339.91. Alphabet Inc. has a 12 month low of $193.67 and a 12 month high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is presently 4.42%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI and earnings momentum remain the main catalyst. Alphabet’s recent quarterly results substantially exceeded expectations, with revenue of $119.8 billion versus the $117.1 billion consensus estimate. Analysts and investors are increasingly viewing the company’s heavy AI spending as supporting accelerating cloud revenue and future monetization. AI stocks have bottomed
• Positive Sentiment: Waymo is showing progress toward commercialization. Alphabet-owned Waymo removed the waitlist for its Dallas robotaxi service, expanding access as it scales across the United States and internationally. Separate analysis reported that Waymo vehicles have materially lower crash rates than human-driven vehicles, strengthening the long-term case for the business. Waymo expands Dallas robotaxi service
• Positive Sentiment: Google’s commercial AI reach is broadening. Oracle is deepening its integration with Google Gemini, while Google also secured computing and strategic partnerships involving SpaceX, Paris Saint-Germain and renewable-energy developer RWE. These deals could support enterprise adoption, cloud demand and infrastructure reliability. Oracle deepens Gemini integration
• Neutral Sentiment: Alphabet is participating in White House AI discussions. Google, OpenAI and Anthropic met with administration advisers regarding voluntary safety testing and a proposed AI oversight framework. Clearer rules could eventually benefit large platforms, although new compliance requirements remain uncertain. White House AI safety meeting
• Negative Sentiment: Legal and regulatory risks are limiting the upside. Pomerantz LLP is investigating potential investor claims, while an advocacy group urged courts to require Google to divest Chrome. Alphabet also faces renewed scrutiny over alleged exclusionary ad-tech practices. These matters could lead to fines, structural remedies or increased operating restrictions. Chrome divestiture advocacy
• Negative Sentiment: AI infrastructure commitments create financial risk. Alphabet is among several hyperscalers facing roughly $1.09 trillion in future data-center lease payments, raising concerns about capital intensity and returns if AI demand or monetization slows. Big Tech data-center lease burden

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.