Catalyst Financial Partners LLC Has $4.78 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Catalyst Financial Partners LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 30,887 shares of the information services provider’s stock after purchasing an additional 1,742 shares during the quarter. Alphabet accounts for approximately 0.9% of Catalyst Financial Partners LLC’s investment portfolio, making the stock its 20th largest holding. Catalyst Financial Partners LLC’s holdings in Alphabet were worth $4,776,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Evergreen Private Wealth LLC increased its holdings in shares of Alphabet by 0.5% during the first quarter. Evergreen Private Wealth LLC now owns 35,334 shares of the information services provider’s stock worth $5,464,000 after buying an additional 178 shares in the last quarter. Slow Capital Inc. grew its holdings in Alphabet by 32.5% during the 1st quarter. Slow Capital Inc. now owns 115,269 shares of the information services provider’s stock worth $17,825,000 after acquiring an additional 28,246 shares during the period. Private Capital Advisors Inc. raised its position in shares of Alphabet by 3.2% in the 1st quarter. Private Capital Advisors Inc. now owns 199,242 shares of the information services provider’s stock worth $30,811,000 after acquiring an additional 6,124 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Alphabet by 3.2% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 30,472 shares of the information services provider’s stock worth $4,712,000 after acquiring an additional 936 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its stake in shares of Alphabet by 124.8% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 55,118 shares of the information services provider’s stock valued at $8,523,000 after buying an additional 30,603 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating and set a $203.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. Bank of America raised their price target on Alphabet from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer raised their price target on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. BNP Paribas Exane reiterated a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Finally, Wedbush set a $190.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $202.22.

Alphabet Stock Performance

NASDAQ GOOGL opened at $190.10 on Tuesday. The firm has a market cap of $2.31 trillion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $172.90 and a 200-day moving average price of $172.89. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.44%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the 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 sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,409 shares of company stock worth $43,523,710 over the last 90 days. 11.64% of the stock is currently owned by company insiders.

Alphabet 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.