Catalyst Capital Advisors LLC Sells 359 Shares of Alphabet Inc. (NASDAQ:GOOG)

Catalyst Capital Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the third quarter, HoldingsChannel.com reports. The fund owned 6,455 shares of the information services provider’s stock after selling 359 shares during the period. Catalyst Capital Advisors LLC’s holdings in Alphabet were worth $1,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Colonial River Wealth Management LLC increased its position in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares during the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after acquiring an additional 498 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Alphabet by 4.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after acquiring an additional 115,716 shares during the last quarter. TSA Wealth Managment LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at $206,000. Finally, RAM Investment Partners LLC boosted its stake in shares of Alphabet by 6.0% in the 2nd quarter. RAM Investment Partners LLC now owns 19,615 shares of the information services provider’s stock valued at $3,598,000 after purchasing an additional 1,119 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.4 %

GOOG stock opened at $171.41 on Wednesday. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50 day moving average price is $163.97 and its two-hundred day moving average price is $170.83. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts forecast that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the 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 sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,552 shares of company stock worth $34,433,848. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.