Integrity Alliance LLC. Cuts Stake in Alphabet Inc. $GOOG

Integrity Alliance LLC. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 37.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,967 shares of the information services provider’s stock after selling 13,157 shares during the quarter. Integrity Alliance LLC.’s holdings in Alphabet were worth $3,897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Creative Financial Designs Inc. ADV grew its holdings in Alphabet by 5.5% in the second quarter. Creative Financial Designs Inc. ADV now owns 9,884 shares of the information services provider’s stock worth $1,753,000 after purchasing an additional 516 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Alphabet by 3.3% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,649 shares of the information services provider’s stock worth $2,244,000 after purchasing an additional 409 shares during the last quarter. AMG National Trust Bank grew its holdings in Alphabet by 0.5% in the second quarter. AMG National Trust Bank now owns 71,163 shares of the information services provider’s stock worth $12,624,000 after purchasing an additional 373 shares during the last quarter. Earned Wealth Advisors LLC grew its holdings in Alphabet by 11.5% in the second quarter. Earned Wealth Advisors LLC now owns 7,181 shares of the information services provider’s stock worth $1,274,000 after purchasing an additional 738 shares during the last quarter. Finally, IFG Advisory LLC grew its holdings in Alphabet by 5.1% in the second quarter. IFG Advisory LLC now owns 31,809 shares of the information services provider’s stock worth $5,643,000 after purchasing an additional 1,531 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 price target on shares of Alphabet in a research note on Thursday. Mizuho set a $325.00 price objective on Alphabet in a report on Thursday. Finally, Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the stock a “neutral” rating in a report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 222,330 shares of company stock valued at $51,167,625. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.0%

NASDAQ GOOG opened at $281.82 on Monday. The company has a market capitalization of $3.41 trillion, a PE ratio of 27.79, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a fifty day moving average of $244.59 and a 200 day moving average of $201.30. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Company 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.