Integrated Wealth Concepts LLC Has $29.84 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Integrated Wealth Concepts LLC increased its stake in Alphabet Inc. by 8.3% during Q1, owning 190,985 shares valued at approximately $29.84 million after acquiring an additional 14,617 shares.
• Insider trading activity included John Kent Walker selling 23,820 shares and CEO Sundar Pichai selling 32,500 shares, resulting in a 35.65% and 1.30% decrease in their ownership respectively.
• Alphabet announced a quarterly dividend of $0.21 per share, with an annualized yield of 0.4%, to be paid on September 15th to shareholders on record by September 8th.

Integrated Wealth Concepts LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 190,985 shares of the information services provider's stock after buying an additional 14,617 shares during the period. Integrated Wealth Concepts LLC's holdings in Alphabet were worth $29,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Alphabet by 2.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock worth $6,494,655,000 after buying an additional 769,335 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Alphabet by 5.0% during the fourth quarter. Janus Henderson Group PLC now owns 30,827,999 shares of the information services provider's stock worth $5,870,944,000 after buying an additional 1,467,805 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after acquiring an additional 1,098,996 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG stock traded down $1.01 on Monday, reaching $234.16. The company's stock had a trading volume of 23,086,278 shares, compared to its average volume of 24,040,084. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $238.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $2.83 trillion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The firm has a fifty day moving average of $196.65 and a two-hundred day moving average of $176.75.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Oppenheimer restated an "outperform" rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $227.56.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 in the last quarter. Insiders own 12.99% of the company's stock.

Alphabet 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.