Integrated Wealth Concepts LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Integrated Wealth Concepts LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,246 shares of the information services provider’s stock after buying an additional 470 shares during the period. Integrated Wealth Concepts LLC’s holdings in Alphabet were worth $28,129,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. M&G PLC bought a new stake in shares of Alphabet in the 3rd quarter worth approximately $2,240,000. Colonial River Wealth Management LLC boosted its position in Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares during the last quarter. Metis Global Partners LLC raised its position in Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after acquiring an additional 5,892 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after purchasing an additional 498 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOG. Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wells Fargo & Company raised their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Up 0.0 %

GOOG opened at $173.06 on Tuesday. The company’s 50-day moving average is $169.98 and its 200 day moving average is $171.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 22.94, a PEG ratio of 1.19 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In related news, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. This represents a 27.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,124 shares of company stock valued at $31,374,030. Corporate insiders own 12.99% of the company’s stock.

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.