Integrated Investment Consultants LLC Has $5.70 Million Position in Alphabet Inc. $GOOGL

Integrated Investment Consultants LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 19,822 shares of the information services provider’s stock after selling 1,816 shares during the period. Alphabet comprises approximately 1.2% of Integrated Investment Consultants LLC’s investment portfolio, making the stock its 21st biggest position. Integrated Investment Consultants LLC’s holdings in Alphabet were worth $5,700,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EMC Capital Management bought a new position in shares of Alphabet during the 4th quarter valued at $33,000. Lifetime Wealth Management P.C. bought a new stake in Alphabet in the fourth quarter worth $32,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. acquired a new position in Alphabet during the fourth quarter worth $52,000. Finally, Kentucky Trust Co increased its position in Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after buying an additional 100 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet News Roundup

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 Price Performance

Shares of NASDAQ:GOOGL opened at $354.30 on Friday. The company has a market cap 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 business has a 50 day moving average price of $355.68 and a 200 day moving average price of $340.41. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $196.60 and a twelve month high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Research analysts predict 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. Shareholders of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is currently 4.42%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $515.00 price target on shares of Alphabet in a research report on Wednesday, July 22nd. Canaccord Genuity Group increased their price objective on Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $425.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Finally, UBS Group decreased their target price on Alphabet from $400.00 to $379.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $419.86.

Insider Transactions at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 600,547 shares of company stock worth $16,255,540. 11.61% of the stock is currently owned by company insiders.

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.