Summit Financial Wealth Advisors LLC Purchases 600 Shares of Alphabet Inc. (NASDAQ:GOOG)

Summit Financial Wealth Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,660 shares of the information services provider’s stock after buying an additional 600 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Alphabet were worth $709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Curated Wealth Partners LLC lifted its stake in shares of Alphabet by 1,916.3% in the 3rd quarter. Curated Wealth Partners LLC now owns 5,081 shares of the information services provider’s stock valued at $489,000 after purchasing an additional 4,829 shares during the last quarter. Optimum Investment Advisors lifted its stake in shares of Alphabet by 1,931.0% in the 3rd quarter. Optimum Investment Advisors now owns 26,220 shares of the information services provider’s stock valued at $2,521,000 after purchasing an additional 24,929 shares during the last quarter. Bangor Savings Bank lifted its stake in shares of Alphabet by 1,992.7% in the 3rd quarter. Bangor Savings Bank now owns 22,601 shares of the information services provider’s stock valued at $2,173,000 after purchasing an additional 21,521 shares during the last quarter. Mechanics Financial Corp lifted its stake in shares of Alphabet by 1,888.8% in the 3rd quarter. Mechanics Financial Corp now owns 8,910 shares of the information services provider’s stock valued at $857,000 after purchasing an additional 8,462 shares during the last quarter. Finally, Aurora Investment Managers LLC. lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Aurora Investment Managers LLC. now owns 32,960 shares of the information services provider’s stock valued at $3,169,000 after purchasing an additional 31,312 shares during the last quarter. 28.69% of the stock is owned by institutional investors.

Alphabet Trading Down 2.0 %

Shares of NASDAQ:GOOG opened at $99.21 on Wednesday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10. The business’s fifty day simple moving average is $93.63 and its 200-day simple moving average is $102.00. The company has a market capitalization of $1.28 trillion, a PE ratio of 19.70, a P/E/G ratio of 1.74 and a beta of 1.08. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. Societe Generale lowered their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Raymond James lowered their price objective on Alphabet from $120.00 to $116.00 and set an “outperform” rating for the company in a research note on Tuesday. Credit Suisse Group set a $128.00 price target on Alphabet in a research note on Wednesday, October 26th. UBS Group set a $115.00 price target on Alphabet in a research note on Thursday, January 12th. Finally, Sanford C. Bernstein set a $120.00 price target on Alphabet in a research note on Thursday, January 12th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.40.

Insider Activity

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders have purchased 661,702 shares of company stock worth $23,399,217 and have sold 190,464 shares worth $8,535,735. Company insiders own 12.99% of the company’s stock.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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