Integrated Wealth Concepts LLC Buys 5,875 Shares of Alphabet Inc. $GOOG

Integrated Wealth Concepts LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 216,923 shares of the information services provider’s stock after acquiring an additional 5,875 shares during the period. Integrated Wealth Concepts LLC’s holdings in Alphabet were worth $76,645,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RFG Advisory LLC raised its position in shares of Alphabet by 6.7% during the second quarter. RFG Advisory LLC now owns 41,211 shares of the information services provider’s stock worth $14,561,000 after acquiring an additional 2,585 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Alphabet by 7.6% in the second quarter. NewEdge Advisors LLC now owns 769,336 shares of the information services provider’s stock valued at $271,829,000 after acquiring an additional 54,291 shares during the last quarter. GFG Capital LLC boosted its holdings in Alphabet by 5.0% in the second quarter. GFG Capital LLC now owns 3,373 shares of the information services provider’s stock valued at $1,192,000 after acquiring an additional 162 shares during the last quarter. Keenan Capital LLC acquired a new stake in Alphabet during the 2nd quarter valued at approximately $26,853,000. Finally, XY Planning Network Inc. increased its position in Alphabet by 40.5% during the 2nd quarter. XY Planning Network Inc. now owns 8,309 shares of the information services provider’s stock valued at $2,936,000 after purchasing an additional 2,394 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $335.45 on Friday. The firm has a market cap of $4.10 trillion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.96 and a beta of 1.21. Alphabet Inc. has a 52-week low of $236.68 and a 52-week high of $404.47. The business’s 50 day moving average price is $344.76 and its two-hundred day moving average price is $341.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 20.52 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 4.42%.

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is currently owned by company insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Friday, July 17th. TD Cowen reaffirmed a “buy” rating and issued a $475.00 price objective on shares of Alphabet in a research note on Thursday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $460.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Citigroup reissued a “market outperform” rating on shares of Alphabet in a research note on Friday, August 14th. Finally, Roth Capital boosted their target price on shares of Alphabet from $435.00 to $440.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $415.55.

Alphabet Company Profile

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google’s core internet businesses from a collection of other ventures. Google remains Alphabet’s largest business and serves users, advertisers, businesses and developers worldwide.

Google’s principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.