Alphabet Inc. (NASDAQ:GOOG) Position Reduced by Kintegral Advisory LLC

Kintegral Advisory LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 32.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 56,795 shares of the information services provider’s stock after selling 27,855 shares during the quarter. Alphabet makes up about 1.3% of Kintegral Advisory LLC’s holdings, making the stock its 12th largest position. Kintegral Advisory LLC’s holdings in Alphabet were worth $8,873,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC grew its holdings in Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after acquiring an additional 1,400 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock worth $2,329,000 after buying an additional 1,376 shares during the last quarter. Harvest Investment Services LLC lifted its position in shares of Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after buying an additional 138 shares during the last quarter. North Forty Two & Co. bought a new position in shares of Alphabet in the 4th quarter worth about $281,000. Finally, Fermata Advisors LLC lifted its position in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after buying an additional 259 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GOOG. Needham & Company LLC downgraded shares of Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. UBS Group reduced their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Citigroup restated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. KeyCorp reduced their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Finally, Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and six have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.38.

Alphabet Stock Up 0.3%

GOOG stock opened at $180.22 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. The firm’s 50-day moving average is $169.97 and its two-hundred day moving average is $175.60. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. Alphabet’s revenue was up 12.0% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is 9.36%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the transaction, the director directly owned 255,400 shares in the company, valued at $44,695,000. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is owned by corporate insiders.

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.