Alphabet Inc. $GOOGL Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 74.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,724 shares of the information services provider’s stock after selling 25,874 shares during the period. Catalyst Capital Advisors LLC’s holdings in Alphabet were worth $1,537,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC grew its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the first quarter valued at about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $283.72 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The company’s 50-day simple moving average is $245.50 and its 200-day simple moving average is $201.24. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 222,442 shares of company stock worth $51,200,307. 11.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Deutsche Bank Aktiengesellschaft raised their target price on Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. CICC Research raised their target price on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday. New Street Research raised their target price on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler restated an “overweight” rating and set a $330.00 target price (up from $285.00) on shares of Alphabet in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.20.

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.