Integral Investment Advisors Inc. Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Integral Investment Advisors Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,529 shares of the information services provider's stock, valued at approximately $3,948,000. Alphabet comprises 1.3% of Integral Investment Advisors Inc.'s portfolio, making the stock its 17th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at approximately $24,383,677,000. FMR LLC lifted its stake in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. GAMMA Investing LLC lifted its stake in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after buying an additional 15,968,487 shares during the period. Northern Trust Corp lifted its stake in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors lifted its stake in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GOOGL shares. Wells Fargo & Company lifted their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Piper Sandler lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. UBS Group set a $195.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Bank of America boosted their price objective on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Stock Performance

Alphabet stock traded down $1.65 during midday trading on Thursday, reaching $175.70. The stock had a trading volume of 20,879,613 shares, compared to its average volume of 30,364,105. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm's 50-day moving average price is $161.71 and its 200 day moving average price is $174.51. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.13 trillion, a PE ratio of 21.83, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the company earned $1.89 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 in the last quarter. 11.64% of the stock is owned by company insiders.

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.