Catalyst Financial Partners LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Catalyst Financial Partners LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 31,468 shares of the information services provider’s stock after purchasing an additional 1,059 shares during the quarter. Alphabet makes up approximately 1.3% of Catalyst Financial Partners LLC’s investment portfolio, making the stock its 14th largest position. Catalyst Financial Partners LLC’s holdings in Alphabet were worth $5,772,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOG. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Finally, Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $182.86.

Alphabet Stock Up 0.2 %

Shares of Alphabet stock traded up $0.38 during trading on Monday, hitting $167.81. 5,490,895 shares of the stock traded hands, compared to its average volume of 20,219,723. The firm has a market cap of $2.07 trillion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock’s fifty day simple moving average is $176.34 and its 200 day simple moving average is $164.76.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 179,065 shares of company stock valued at $31,025,543 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.