Catalina Capital Group LLC Sells 2,093 Shares of Alphabet Inc. $GOOGL

Key Points

• Catalina Capital Group LLC reduced its stake in Alphabet Inc. by 24.8%, selling 2,093 shares, and now holds 6,340 shares, valued at approximately $1.12 million.
• Alphabet reported better-than-expected quarterly earnings with an EPS of $2.31, exceeding the estimated EPS of $2.15 and generating revenues of $96.43 billion.
• The company recently announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.3% and a dividend payout ratio of 8.95%.

Catalina Capital Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,340 shares of the information services provider's stock after selling 2,093 shares during the period. Alphabet makes up approximately 0.7% of Catalina Capital Group LLC's holdings, making the stock its 29th biggest position. Catalina Capital Group LLC's holdings in Alphabet were worth $1,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kennebec Savings Bank lifted its position in shares of Alphabet by 6.3% during the 2nd quarter. Kennebec Savings Bank now owns 15,797 shares of the information services provider's stock worth $2,784,000 after buying an additional 942 shares during the period. Sageworth Trust Co bought a new stake in Alphabet in the second quarter valued at about $355,000. ASR Vermogensbeheer N.V. increased its stake in Alphabet by 1.0% in the second quarter. ASR Vermogensbeheer N.V. now owns 1,109,614 shares of the information services provider's stock valued at $195,542,000 after purchasing an additional 10,458 shares in the last quarter. DMKC Advisory Services LLC bought a new stake in shares of Alphabet in the second quarter worth about $241,000. Finally, Cliftonlarsonallen Wealth Advisors LLC lifted its stake in Alphabet by 2.4% in the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 26,367 shares of the information services provider's stock valued at $4,647,000 after buying an additional 609 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 1.3%

Shares of Alphabet stock opened at $241.53 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The stock has a market capitalization of $2.92 trillion, a P/E ratio of 25.72, a P/E/G ratio of 1.65 and a beta of 1.00. The stock's 50-day simple moving average is $225.37 and its 200 day simple moving average is $188.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Citigroup lifted their price objective on shares of Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. UBS Group raised their price objective on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, 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. Five research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $244.62.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by 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.

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