Catalyst Capital Advisors LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,580 shares of the information services provider’s stock after selling 103 shares during the period. Catalyst Capital Advisors LLC’s holdings in Alphabet were worth $309,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. DC Investments Management LLC bought a new stake in Alphabet during the 1st quarter worth about $114,000. Bridgefront Capital LLC bought a new stake in Alphabet during the first quarter worth about $225,000. Worth Asset Management LLC acquired a new position in Alphabet during the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC grew its stake in Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $281,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the completion of the transaction, the director now owns 104,364 shares of the company’s stock, valued at $13,681,076.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the sale, the chief accounting officer now owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 75,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total value of $9,831,750.00. Following the completion of the transaction, the director now owns 104,364 shares of the company’s stock, valued at $13,681,076.76. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock valued at $23,425,367 over the last ninety days. 0.88% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The firm had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. As a group, research analysts expect that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on GOOGL shares. Sanford C. Bernstein raised their target price on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Wedbush restated an “outperform” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Susquehanna reaffirmed a “positive” rating and issued a $150.00 target price on shares of Alphabet in a report on Thursday, August 31st. Needham & Company LLC lifted their price target on Alphabet from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Morgan Stanley dropped their price objective on Alphabet from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.00.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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