Alphabet Inc. $GOOG Shares Acquired by Catalyst Private Wealth LLC

by · The Markets Daily

Catalyst Private Wealth LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,572 shares of the information services provider’s stock after purchasing an additional 133 shares during the quarter. Catalyst Private Wealth LLC’s holdings in Alphabet were worth $1,166,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOG. Brighton Jones LLC grew its position in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after purchasing an additional 20,855 shares during the period. Woodline Partners LP grew its position in shares of Alphabet by 23,308.0% in the fourth quarter. Woodline Partners LP now owns 285,812 shares of the information services provider’s stock valued at $54,430,000 after purchasing an additional 284,591 shares during the period. Windsor Advisory Group LLC boosted its position in Alphabet by 72.6% during the fourth quarter. Windsor Advisory Group LLC now owns 416 shares of the information services provider’s stock worth $79,000 after acquiring an additional 175 shares during the last quarter. Finally, Willis Johnson & Associates Inc. boosted its position in Alphabet by 60.4% during the fourth quarter. Willis Johnson & Associates Inc. now owns 5,329 shares of the information services provider’s stock worth $1,015,000 after acquiring an additional 2,006 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOG. Pivotal Research boosted their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. KeyCorp set a $265.00 price target on shares of Alphabet in a research report on Wednesday, September 3rd. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.56.

Get Our Latest Report on Alphabet

Alphabet Trading Down 0.1%

NASDAQ GOOG opened at $251.42 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $253.23. The stock has a market capitalization of $3.04 trillion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The firm has a 50 day moving average of $205.68 and a two-hundred day moving average of $179.98.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the prior year, the business posted $1.89 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,588 shares of company stock worth $44,296,554. 12.99% of the stock is currently owned by company insiders.

About Alphabet

(Free Report)

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.

Further Reading

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