Kapstone Financial Advisors LLC Sells 1,025 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kapstone Financial Advisors LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.7% during the third quarter, Holdings Channel reports. The fund owned 16,847 shares of the information services provider’s stock after selling 1,025 shares during the period. Alphabet comprises 1.7% of Kapstone Financial Advisors LLC’s holdings, making the stock its 13th biggest holding. Kapstone Financial Advisors LLC’s holdings in Alphabet were worth $2,762,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. increased its stake in Alphabet by 4.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 299,400 shares of the information services provider’s stock valued at $49,655,000 after acquiring an additional 12,603 shares during the last quarter. Metis Global Partners LLC boosted its position in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 298,382 shares of the information services provider’s stock valued at $49,487,000 after buying an additional 4,156 shares during the period. Schulhoff & Co. Inc. boosted its position in Alphabet by 16.1% during the third quarter. Schulhoff & Co. Inc. now owns 9,983 shares of the information services provider’s stock valued at $1,656,000 after buying an additional 1,385 shares during the period. Curi RMB Capital LLC boosted its position in Alphabet by 3.6% during the third quarter. Curi RMB Capital LLC now owns 335,698 shares of the information services provider’s stock valued at $55,676,000 after buying an additional 11,722 shares during the period. Finally, Planning Capital Management Corp boosted its position in Alphabet by 20.7% during the third quarter. Planning Capital Management Corp now owns 3,145 shares of the information services provider’s stock valued at $522,000 after buying an additional 540 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GOOGL. Wedbush restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. KeyCorp upped their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Loop Capital increased their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $169.23 on Friday. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm has a market cap of $2.07 trillion, a P/E ratio of 22.44, a PEG ratio of 1.19 and a beta of 1.03. The company has a 50 day moving average of $168.36 and a 200 day moving average of $170.33. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business earned $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.