Kintegral Advisory LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Kintegral Advisory LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 19.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,753 shares of the information services provider’s stock after selling 21,880 shares during the period. Alphabet accounts for 1.6% of Kintegral Advisory LLC’s investment portfolio, making the stock its 6th biggest position. Kintegral Advisory LLC’s holdings in Alphabet were worth $16,462,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GOOG. Partnership Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth $34,000. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the 2nd quarter worth $37,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.1 %

Shares of GOOG stock traded down $1.88 during mid-day trading on Wednesday, reaching $164.50. The stock had a trading volume of 15,177,795 shares, compared to its average volume of 20,189,111. 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’s 50-day moving average price is $175.92 and its two-hundred day moving average price is $165.02. The firm has a market capitalization of $2.03 trillion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the company posted $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $182.86.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders have sold a total of 179,065 shares of company stock worth $31,025,543 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

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.