Alphabet Inc. (NASDAQ:GOOGL) is Kapstone Financial Advisors LLC’s 9th Largest Position

Kapstone Financial Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the second quarter, Holdings Channel reports. The institutional investor owned 17,872 shares of the information services provider’s stock after selling 300 shares during the quarter. Alphabet accounts for about 2.1% of Kapstone Financial Advisors LLC’s holdings, making the stock its 9th biggest position. Kapstone Financial Advisors LLC’s holdings in Alphabet were worth $3,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Range Financial Group LLC raised its stake in Alphabet by 2.2% during the second quarter. Range Financial Group LLC now owns 3,068 shares of the information services provider’s stock valued at $559,000 after buying an additional 67 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Alphabet by 3.0% in the second quarter. TD Asset Management Inc now owns 5,666,976 shares of the information services provider’s stock worth $1,032,240,000 after purchasing an additional 167,435 shares during the last quarter. Aberdeen Wealth Management LLC raised its stake in shares of Alphabet by 6.0% in the second quarter. Aberdeen Wealth Management LLC now owns 19,135 shares of the information services provider’s stock worth $3,485,000 after purchasing an additional 1,085 shares during the last quarter. FineMark National Bank & Trust raised its stake in shares of Alphabet by 2.1% in the second quarter. FineMark National Bank & Trust now owns 115,958 shares of the information services provider’s stock worth $21,122,000 after purchasing an additional 2,409 shares during the last quarter. Finally, Commons Capital LLC raised its stake in shares of Alphabet by 2.8% in the second quarter. Commons Capital LLC now owns 27,964 shares of the information services provider’s stock worth $5,094,000 after purchasing an additional 754 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOOGL shares. Jefferies Financial Group boosted their price target on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Roth Mkm restated a “buy” rating and issued a $206.00 price target on shares of Alphabet in a research note on Thursday, August 29th. Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Morgan Stanley cut their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Bank of America lifted their price objective on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a filing with the SEC, which is available through this link. 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 sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,167 shares of company stock valued at $30,139,931. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $159.32 on Wednesday. The firm has a market cap of $1.97 trillion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $166.25 and a 200-day moving average price of $165.17. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced 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 company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the company earned $1.44 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Alphabet 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.