Integrated Capital Management LLC Lowers Holdings in Alphabet Inc. $GOOG

Integrated Capital Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the 2nd quarter, Holdings Channel reports. The firm owned 2,871 shares of the information services provider’s stock after selling 113 shares during the quarter. Integrated Capital Management LLC’s holdings in Alphabet were worth $549,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOG. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter worth about $26,000. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the first quarter worth about $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet in the first quarter worth approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 2.1%

GOOG opened at $251.51 on Tuesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $223.05 and its 200-day moving average price is $187.91. The company has a market cap of $3.04 trillion, a P/E ratio of 26.78, a P/E/G ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Raymond James Financial reissued an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Mizuho raised Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $235.33.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. 12.99% of the stock is owned by company insiders.

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.