Stone Summit Wealth LLC Has $7.64 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Stone Summit Wealth LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,115 shares of the information services provider’s stock after selling 339 shares during the quarter. Alphabet accounts for about 2.6% of Stone Summit Wealth LLC’s investment portfolio, making the stock its 6th biggest position. Stone Summit Wealth LLC’s holdings in Alphabet were worth $7,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. FMR LLC boosted its position in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after buying an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after buying an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after acquiring an additional 1,291,274 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,529 shares of company stock worth $16,600,078. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.9 %

Alphabet stock opened at $185.43 on Thursday. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. 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 company has a 50 day moving average of $193.70 and a 200-day moving average of $176.40. The stock has a market capitalization of $2.27 trillion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GOOG shares. Oppenheimer lifted their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Jefferies Financial Group upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank raised their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Citigroup upped their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.