Catalina Capital Group LLC Has $1.89 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Catalina Capital Group LLC reduced its stake in Alphabet Inc. by 15.5%, owning approximately $1.89 million worth of shares after selling 1,964 shares in the latest quarter.
• Institutional investors own 27.26% of Alphabet's stock, with notable increases from Kingstone Capital Partners and Vanguard Group during the 1st quarter of the year.
• Insider selling occurred recently, with key executives John Kent Walker and CEO Sundar Pichai selling shares totaling over $12 million, marking a decrease in their respective holdings.

Catalina Capital Group LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,671 shares of the information services provider's stock after selling 1,964 shares during the quarter. Alphabet comprises about 1.3% of Catalina Capital Group LLC's portfolio, making the stock its 17th biggest holding. Catalina Capital Group LLC's holdings in Alphabet were worth $1,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC increased its position in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Nuveen LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. increased its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Alphabet during the 1st quarter worth approximately $369,713,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction 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 sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer directly owned 2,402,119 shares of the company's stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $246.45 on Friday. 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 twelve month low of $142.66 and a twelve month high of $256.70. The company has a market cap of $2.98 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The business has a fifty day simple moving average of $221.89 and a 200 day simple moving average of $187.15.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the company earned $1.89 EPS. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GOOG shares. JPMorgan Chase & Co. boosted their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. UBS Group boosted their target price on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Mizuho raised Alphabet to a "strong-buy" rating in a report on Monday, September 29th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Oppenheimer reissued an "outperform" rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.33.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.