Capstone Financial Advisors Inc. Sells 1,862 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Capstone Financial Advisors Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 29.7% during the first quarter, Holdings Channel reports. The institutional investor owned 4,417 shares of the information services provider’s stock after selling 1,862 shares during the quarter. Capstone Financial Advisors Inc.’s holdings in Alphabet were worth $683,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mystic Asset Management Inc. boosted its position in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co boosted its position in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter worth $3,119,000. Cypress Capital LLC boosted its position in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC boosted its position in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after purchasing an additional 403 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director owned 6,013 shares in the company, valued at $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,219 shares of company stock worth $49,474,273. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. BMO Capital Markets raised their price target on Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. DA Davidson raised their price target on Alphabet from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Cantor Fitzgerald raised their price target on Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Stifel Nicolaus raised their price target on Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $211.53.

Alphabet Trading Up 2.5%

Alphabet stock opened at $201.42 on Monday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 21.45, a PEG ratio of 1.36 and a beta of 1.01. The stock has a 50-day simple moving average of $180.89 and a 200 day simple moving average of $172.80.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96,428,000 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

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.