Alphabet Inc. $GOOGL Position Decreased by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,822 shares of the information services provider’s stock after selling 1,816 shares during the period. Alphabet comprises 1.2% of Integrated Investment Consultants LLC’s holdings, making the stock its 21st biggest holding. Integrated Investment Consultants LLC’s holdings in Alphabet were worth $5,700,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Lifetime Wealth Management P.C. acquired a new position in Alphabet in the fourth quarter worth approximately $32,000. EMC Capital Management bought a new stake in shares of Alphabet during the 4th quarter worth $33,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet in the 4th quarter worth $52,000. Finally, Kentucky Trust Co grew its holdings in shares of Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after acquiring an additional 100 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. KeyCorp upped their target price on Alphabet from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Canaccord Genuity Group lifted their price target on Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Rosenblatt Securities restated a “neutral” rating and set a $393.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Loop Capital raised their target price on shares of Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $390.00 target price (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $419.86.

Insider Activity at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This represents a 1.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 600,547 shares of company stock valued at $16,255,540. 11.61% of the stock is owned by company insiders.

Alphabet Stock Down 1.0%

NASDAQ:GOOGL opened at $354.30 on Friday. The business’s fifty day moving average price is $355.68 and its 200 day moving average price is $340.41. The firm has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.99 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. Alphabet Inc. has a 1-year low of $196.60 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current fiscal 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 given 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 is 4.42%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Profile

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.