Alphabet Inc. (NASDAQ:GOOGL) Stake Cut by Kapstone Financial Advisors LLC

Kapstone Financial Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 17,872 shares of the information services provider’s stock after selling 300 shares during the period. Alphabet accounts for 2.1% of Kapstone Financial Advisors LLC’s investment portfolio, making the stock its 9th largest position. Kapstone Financial Advisors LLC’s holdings in Alphabet were worth $3,255,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Norges Bank purchased a new stake in Alphabet during the 4th quarter worth about $15,441,917,000. Capital Research Global Investors raised its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares in the last quarter. Finally, PineStone Asset Management Inc. raised its holdings in shares of Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent analyst reports. Mizuho raised their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley lowered their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. Finally, DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Price Performance

Shares of GOOGL stock opened at $159.32 on Wednesday. The firm has a market cap of $1.97 trillion, a P/E ratio of 24.44, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The business’s 50 day moving average price is $166.25 and its 200-day moving average price is $165.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the company earned $1.44 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock worth $30,139,931 in the last quarter. 11.55% of the stock is owned by company insiders.

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.