Catalyst Capital Advisors LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200 shares of the information services provider’s stock after selling 9 shares during the period. Catalyst Capital Advisors LLC’s holdings in Alphabet were worth $580,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parnassus Investments LLC lifted its stake in shares of Alphabet by 6.9% during the 3rd quarter. Parnassus Investments LLC now owns 740,965 shares of the information services provider’s stock worth $1,980,985,000 after buying an additional 47,893 shares during the last quarter. Sit Investment Associates Inc. lifted its stake in shares of Alphabet by 5.3% during the 3rd quarter. Sit Investment Associates Inc. now owns 16,568 shares of the information services provider’s stock worth $44,295,000 after buying an additional 827 shares during the last quarter. Geode Capital Management LLC raised its stake in Alphabet by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,206,549 shares of the information services provider’s stock worth $13,883,223,000 after purchasing an additional 147,755 shares in the last quarter. Cito Capital Group LLC acquired a new stake in Alphabet in the 3rd quarter worth about $992,000. Finally, Ibex Wealth Advisors raised its stake in Alphabet by 3.5% in the 3rd quarter. Ibex Wealth Advisors now owns 2,639 shares of the information services provider’s stock worth $7,055,000 after purchasing an additional 90 shares in the last quarter. 41.70% of the stock is owned by institutional investors.
GOOGL traded up $64.13 during trading on Friday, hitting $2,321.01. 1,748,103 shares of the company’s stock were exchanged, compared to its average volume of 2,051,722. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $2,570.32 and its two-hundred day moving average is $2,733.56. Alphabet Inc. has a fifty-two week low of $2,196.49 and a fifty-two week high of $3,030.93. The stock has a market cap of $1.53 trillion, a P/E ratio of 20.99, a PEG ratio of 1.06 and a beta of 1.13.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter in the prior year, the business posted $26.29 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 112.62 earnings per share for the current year.
GOOGL has been the subject of several analyst reports. Tigress Financial lifted their price objective on shares of Alphabet from $3,540.00 to $3,670.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 18th. Jefferies Financial Group dropped their target price on shares of Alphabet from $3,600.00 to $3,400.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Wolfe Research dropped their target price on shares of Alphabet from $3,500.00 to $2,900.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. Mizuho dropped their target price on shares of Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Finally, MKM Partners dropped their target price on shares of Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $3,314.08.
In related news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of Alphabet stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the transaction, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 550,261 shares of company stock valued at $21,637,779. Company insiders own 13.20% of the company’s stock.
About Alphabet (Get Rating)
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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