Catalyst Private Wealth LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Catalyst Private Wealth LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,560 shares of the information services provider’s stock after selling 274 shares during the period. Alphabet accounts for about 0.6% of Catalyst Private Wealth LLC’s portfolio, making the stock its 27th biggest position. Catalyst Private Wealth LLC’s holdings in Alphabet were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Partnership Wealth Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth $26,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the 4th quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Alphabet during the 4th quarter valued at about $34,000. Richardson Financial Services Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at about $34,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the second quarter worth about $37,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $167.43 on Friday. The firm has a fifty day moving average price of $176.34 and a 200 day moving average price of $164.50. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The stock has a market cap of $2.07 trillion, a P/E ratio of 25.68, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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 business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 7.62 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 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. In the last three months, insiders sold 179,065 shares of company stock worth $31,025,543. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GOOG shares. Oppenheimer increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $182.86.

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.