Integrity Wealth Advisors Inc. Invests $8.66 Million in Alphabet Inc. (NASDAQ:GOOG)

Integrity Wealth Advisors Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 45,469 shares of the information services provider’s stock, valued at approximately $8,659,000. Alphabet makes up 6.3% of Integrity Wealth Advisors Inc.’s holdings, making the stock its 5th largest position.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares during the period. Morse Asset Management Inc purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $166,000. McIlrath & Eck LLC raised its stake in Alphabet by 12.9% during the third quarter. McIlrath & Eck LLC now owns 13,575 shares of the information services provider’s stock valued at $2,270,000 after buying an additional 1,546 shares during the last quarter. Passumpsic Savings Bank purchased a new stake in shares of Alphabet in the third quarter worth $263,000. Finally, Advisory Resource Group increased its holdings in shares of Alphabet by 8.7% during the third quarter. Advisory Resource Group now owns 10,277 shares of the information services provider’s stock valued at $1,718,000 after acquiring an additional 822 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. KeyCorp reduced their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Scotiabank boosted their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.71.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. This represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,497 shares of company stock worth $20,837,150 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $161.47 on Tuesday. The stock has a market cap of $1.97 trillion, a PE ratio of 20.06, a P/E/G ratio of 1.34 and a beta of 1.04. 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 business’s 50-day simple moving average is $169.86 and its two-hundred day simple moving average is $177.96. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.