Kingstone Capital Partners Texas LLC Has $3.63 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Kingstone Capital Partners Texas LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,251 shares of the information services provider's stock after selling 2,199 shares during the period. Alphabet comprises approximately 2.9% of Kingstone Capital Partners Texas LLC's holdings, making the stock its 11th largest position. Kingstone Capital Partners Texas LLC's holdings in Alphabet were worth $3,633,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Cassaday & Co Wealth Management LLC increased its holdings in Alphabet by 9.3% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock valued at $5,341,000 after buying an additional 2,390 shares during the period. LaFleur & Godfrey LLC increased its holdings in Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after buying an additional 380 shares during the period. Brighton Jones LLC increased its holdings in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Alphabet in the 4th quarter valued at $204,262,000. Finally, Ascent Wealth Partners LLC increased its holdings in Alphabet by 246.2% in the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider's stock valued at $1,085,000 after buying an additional 4,052 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.6%

Shares of GOOG traded down $1.09 during mid-day trading on Friday, hitting $175.88. 20,848,122 shares of the company's stock were exchanged, compared to its average volume of 20,479,029. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a 50-day simple moving average of $163.98 and a 200 day simple moving average of $176.27. The company has a market cap of $2.13 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the business earned $1.89 earnings per share. The firm's revenue was up 12.0% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now directly owns 7,613 shares of the company's stock, valued at $1,232,544.70. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOG. KeyCorp lowered their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, UBS Group lowered their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $204.88.

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.