Integrity Financial Corp WA Acquires 2,259 Shares of Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Integrity Financial Corp WA increased its stake in Alphabet Inc. by 33.4%, acquiring an additional 2,259 shares and bringing its total ownership to 9,015 shares, valued at approximately $1,408,000.
• Alphabet's recent quarterly earnings showed a significant revenue growth of 13.8% year-over-year, with reported earnings per share (EPS) of $2.31, exceeding estimates by $0.19.
• The company declared a quarterly dividend of $0.21 per share, with an ex-dividend date set for September 8th, representing an annualized yield of 0.4%.

Integrity Financial Corp WA lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 33.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,015 shares of the information services provider's stock after purchasing an additional 2,259 shares during the period. Alphabet comprises approximately 0.8% of Integrity Financial Corp WA's investment portfolio, making the stock its 25th largest holding. Integrity Financial Corp WA's holdings in Alphabet were worth $1,408,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. Capital International Investors increased its holdings in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares during the last quarter. Northern Trust Corp raised its stake in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the period. Capital Research Global Investors lifted its holdings in Alphabet by 0.8% during the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 valued at $6,494,655,000 after purchasing an additional 769,335 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.2%

Shares of GOOG opened at $197.28 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market capitalization of $2.39 trillion, a P/E ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 1.02. 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 firm's 50 day simple moving average is $181.28 and its 200 day simple moving average is $174.68.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date 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 presently 8.95%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 273,219 shares of company stock worth $49,474,273. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOG shares. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $215.19.

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.

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