Alphabet Inc. $GOOGL Holdings Cut by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 74.8% during the second quarter, HoldingsChannel.com reports. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the first 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 during the period. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $39,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $283.72 on Tuesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.43 trillion, a PE ratio of 27.98, a P/E/G ratio of 1.86 and a beta of 1.00. The company’s 50 day simple moving average is $245.50 and its 200 day simple moving average is $201.24.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $99.90 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. CIBC raised their price target on shares of Alphabet to $315.00 in a research note on Monday, October 20th. BNP Paribas Exane raised their price target on shares of Alphabet from $187.00 to $247.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Wedbush restated an “outperform” rating and issued a $320.00 price target (up previously from $245.00) on shares of Alphabet in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Finally, Citigroup restated a “buy” rating and issued a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $302.20.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 222,442 shares of company stock worth $51,200,307. 11.64% 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.