Integrity Wealth Solutions LLC Has $1.12 Million Position in Alphabet Inc. $GOOG

Integrity Wealth Solutions LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,327 shares of the information services provider’s stock after selling 1,140 shares during the period. Integrity Wealth Solutions LLC’s holdings in Alphabet were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC raised its position in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new position in shares of Alphabet in the 1st quarter worth about $2,622,943,000. Vanguard Group Inc. increased its position in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio bought a new stake in Alphabet in the 1st quarter valued at about $369,713,000. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $284.75 on Thursday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $291.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $249.02 and its 200-day moving average price is $203.67. The company has a market capitalization of $3.44 trillion, a PE ratio of 28.08, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the business earned $2.12 earnings per share. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 190,896 shares of company stock worth $45,092,175 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOOG. Sanford C. Bernstein boosted their target price on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Bank of America boosted their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Wolfe Research boosted their target price on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet 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.