Capstone Wealth Management Group LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Capstone Wealth Management Group LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 44.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,569 shares of the information services provider’s stock after purchasing an additional 3,895 shares during the period. Alphabet comprises 1.5% of Capstone Wealth Management Group LLC’s holdings, making the stock its 18th largest position. Capstone Wealth Management Group LLC’s holdings in Alphabet were worth $2,289,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Capital Research Global Investors increased its stake in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. increased its stake in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after buying an additional 6,010,548 shares in the last quarter. Wulff Hansen & CO. raised its holdings in shares of Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. Finally, PineStone Asset Management Inc. lifted its position in shares of Alphabet by 143.7% in the second 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. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the transaction, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The disclosure for this sale can be found here. In the last three months, insiders sold 193,725 shares of company stock valued at $31,933,031. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GOOGL shares. Citigroup increased their price objective on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Argus boosted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Roth Mkm reaffirmed a “buy” rating and set a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.35.

Alphabet Stock Performance

Shares of GOOGL opened at $165.85 on Tuesday. The company has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. 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 stock has a 50 day moving average price of $162.52 and a 200 day moving average price of $166.84.

Alphabet (NASDAQ:GOOGL) last posted its 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 net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the firm posted $1.44 EPS. Research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.