Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 165,889 shares of the information services provider’s stock after selling 3,922 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Alphabet were worth $27,513,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lantz Financial LLC raised its position in shares of Alphabet by 10.8% in the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after buying an additional 452 shares during the last quarter. RFG Advisory LLC raised its position in shares of Alphabet by 27.7% during the 2nd quarter. RFG Advisory LLC now owns 67,487 shares of the information services provider’s stock valued at $12,293,000 after buying an additional 14,647 shares during the period. Realta Investment Advisors lifted its stake in shares of Alphabet by 5.7% in the 2nd quarter. Realta Investment Advisors now owns 31,879 shares of the information services provider’s stock valued at $5,807,000 after purchasing an additional 1,730 shares during the last quarter. Granite Bay Wealth Management LLC lifted its position in Alphabet by 6,410.2% in the second quarter. Granite Bay Wealth Management LLC now owns 109,566 shares of the information services provider’s stock valued at $18,488,000 after buying an additional 107,883 shares during the last quarter. Finally, Northwest Investment Counselors LLC boosted its position in shares of Alphabet by 3.5% during the 2nd quarter. Northwest Investment Counselors LLC now owns 17,595 shares of the information services provider’s stock worth $3,205,000 after purchasing an additional 590 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,623 shares of company stock valued at $34,413,006 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $189.82 on Friday. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $195.61. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.32 trillion, a PE ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a 50-day simple moving average of $171.63 and a 200-day simple moving average of $170.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 EPS. Equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Finally, Piper Sandler restated an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.08.

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.