Integrity Alliance LLC. Purchases 78,941 Shares of Alphabet Inc. $GOOGL

Key Points

• Integrity Alliance LLC significantly increased its stake in Alphabet Inc. by 346.9%, acquiring a total of 101,698 shares worth approximately $15.7 million.
• Alphabet recently reported earnings per share of $2.31, exceeding analyst expectations, and announced a quarterly dividend of $0.21 per share.
• Several analysts have raised their target prices for Alphabet, with Wedbush increasing its target from $225.00 to $245.00 and maintaining an "outperform" rating.

Integrity Alliance LLC. increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 346.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,698 shares of the information services provider's stock after acquiring an additional 78,941 shares during the quarter. Integrity Alliance LLC.'s holdings in Alphabet were worth $15,727,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Highview Capital Management LLC DE lifted its holdings in shares of Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Alphabet by 6.4% in the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider's stock worth $14,985,000 after purchasing an additional 4,756 shares in the last quarter. Finally, Triumph Capital Management lifted its holdings in shares of Alphabet by 1.6% in the 4th quarter. Triumph Capital Management now owns 5,470 shares of the information services provider's stock worth $1,036,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 0.5%

NASDAQ:GOOGL traded up $1.20 during trading hours on Thursday, hitting $240.37. 30,544,923 shares of the company traded hands, compared to its average volume of 35,138,924. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm's 50-day simple moving average is $200.66 and its 200-day simple moving average is $177.03. Alphabet Inc. has a one year low of $140.53 and a one year high of $242.25. The company has a market cap of $2.91 trillion, a PE ratio of 25.60, a PEG ratio of 1.61 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be 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 is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,710 shares of company stock valued at $49,208,380. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent research reports. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Loop Capital reaffirmed a "hold" rating and issued a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Needham & Company LLC raised their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, BMO Capital Markets raised their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $221.44.

About Alphabet

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.