Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Integrated Capital Management LLC

Key Points

• Integrated Capital Management LLC increased its stake in Alphabet Inc. by 6.9% in Q1, now holding 78,260 shares valued at approximately $12.1 million, making it the fund's 4th largest position.
• CEO Sundar Pichai sold 32,500 shares at an average price of $178.52, reducing his ownership by 1.25% to nearly 2.56 million shares.
• Multiple analysts have raised their price targets for Alphabet, with a consensus rating of "Moderate Buy" and an average price target of $211.32.

Integrated Capital Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,260 shares of the information services provider's stock after buying an additional 5,019 shares during the period. Alphabet accounts for about 6.7% of Integrated Capital Management LLC's investment portfolio, making the stock its 4th biggest position. Integrated Capital Management LLC's holdings in Alphabet were worth $12,102,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. von Borstel & Associates Inc. purchased a new stake in Alphabet in the 1st quarter worth about $28,000. Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet during the first quarter valued at approximately $39,000. Elite Financial Inc. bought a new position in shares of Alphabet during the first quarter valued at approximately $42,000. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $49,000. Finally, EQ Wealth Advisors LLC bought a new stake in shares of Alphabet during the 1st quarter worth approximately $49,000. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOGL traded up $0.78 during trading hours on Wednesday, hitting $196.53. 32,265,287 shares of the stock were exchanged, compared to its average volume of 37,021,776. The firm's fifty day moving average price is $177.49 and its 200 day moving average price is $173.11. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market cap of $2.38 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.30 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,298 shares of company stock valued at $43,505,967. Corporate insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Roth Capital increased their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Mizuho lowered their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. BMO Capital Markets raised their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Truist Financial reiterated a "buy" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Finally, Citigroup raised their price target on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $211.39.

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.