Integrity Alliance LLC. Has $15.73 Million Position in Alphabet Inc. $GOOGL

Integrity Alliance LLC. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 346.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,698 shares of the information services provider’s stock after buying an additional 78,941 shares during the quarter. Integrity Alliance LLC.’s holdings in Alphabet were worth $15,727,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GOOGL. Nuveen LLC bought a new stake in Alphabet during the 1st quarter worth approximately $4,317,606,000. GAMMA Investing LLC increased its holdings in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. increased its holdings in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Alphabet in the 4th quarter worth approximately $1,375,509,000. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOOGL. Piper Sandler boosted their target price on Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Loop Capital restated a “hold” rating and issued a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Roth Capital upped their price objective on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Stifel Nicolaus upped their price objective on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Finally, BNP Paribas Exane reiterated a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.44.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the transaction, the director owned 6,316 shares of the company’s stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,710 shares of company stock worth $49,208,380. 11.55% of the stock is owned by insiders.

Alphabet Trading Up 2.4%

Shares of GOOGL stock opened at $239.63 on Wednesday. The company’s fifty day simple moving average is $198.22 and its two-hundred day simple moving average is $176.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $240.47. The stock has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.57 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Alphabet Company 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.