Integrity Financial Corp WA Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Integrity Financial Corp WA trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the third quarter, Holdings Channel.com reports. The fund owned 8,628 shares of the information services provider’s stock after selling 217 shares during the period. Alphabet accounts for 0.8% of Integrity Financial Corp WA’s investment portfolio, making the stock its 26th largest holding. Integrity Financial Corp WA’s holdings in Alphabet were worth $1,443,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet during the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the second quarter worth about $44,000. Finally, Hoese & Co LLP raised its position in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOG. Pivotal Research started coverage on shares of Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Price Performance

GOOG stock opened at $166.82 on Wednesday. The company has a market cap of $2.06 trillion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $163.23 and a two-hundred day moving average price of $169.96. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. Company 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.