Integrated Investment Consultants LLC Sells 3,812 Shares of Alphabet Inc. $GOOGL

Integrated Investment Consultants LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 12.8% during the third quarter, Holdings Channel reports. The institutional investor owned 25,875 shares of the information services provider’s stock after selling 3,812 shares during the quarter. Alphabet comprises 1.0% of Integrated Investment Consultants LLC’s investment portfolio, making the stock its 26th largest holding. Integrated Investment Consultants LLC’s holdings in Alphabet were worth $6,290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its holdings in shares of Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares during the last quarter. Finally, United Bank boosted its position in shares of Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after purchasing an additional 3,120 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Canaccord Genuity Group set a $415.00 target price on Alphabet in a research note on Thursday, February 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Monday, February 9th. DZ Bank restated a “buy” rating on shares of Alphabet in a research note on Monday, February 16th. Mizuho upped their price objective on shares of Alphabet from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $400.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $367.18.

Get Our Latest Stock Analysis on GOOGL

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Up 1.8%

Shares of GOOGL stock opened at $310.92 on Wednesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $349.00. The firm has a market capitalization of $3.76 trillion, a PE ratio of 28.76, a P/E/G ratio of 1.79 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The stock’s 50-day simple moving average is $318.83 and its 200-day simple moving average is $291.74.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. The firm had revenue of $113.83 billion during the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, March 9th. Alphabet’s payout ratio is presently 7.77%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 112 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total value of $33,934.88. Following the sale, the director owned 18,418 shares in the company, valued at $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 47,574 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider directly owned 13,227 shares of the company’s stock, valued at approximately $3,987,279.15. This trade represents a 78.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 2,076,615 shares of company stock worth $107,809,111. Company insiders own 11.55% of the company’s stock.

Alphabet Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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