Marathon Trading Investment Management LLC Acquires Shares of 1,767 Alphabet Inc. (NASDAQ:GOOG)

Marathon Trading Investment Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,767 shares of the information services provider’s stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Sienna Gestion lifted its position in shares of Alphabet by 9,026.2% in the second quarter. Sienna Gestion now owns 54,940 shares of the information services provider’s stock valued at $10,072,000 after acquiring an additional 54,338 shares in the last quarter. Carolinas Wealth Consulting LLC raised its stake in Alphabet by 0.5% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 30,974 shares of the information services provider’s stock valued at $5,681,000 after purchasing an additional 152 shares during the last quarter. Seven Eight Capital LP purchased a new position in Alphabet in the 2nd quarter valued at $4,315,000. CCLA Investment Management boosted its stake in Alphabet by 1.0% during the 2nd quarter. CCLA Investment Management now owns 1,127,752 shares of the information services provider’s stock worth $210,230,000 after purchasing an additional 11,490 shares during the last quarter. Finally, Beck Bode LLC boosted its stake in Alphabet by 7.1% during the 2nd quarter. Beck Bode LLC now owns 67,523 shares of the information services provider’s stock worth $12,385,000 after purchasing an additional 4,456 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $160.81 on Thursday. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.99 trillion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business has a fifty day moving average of $167.19 and a two-hundred day moving average of $166.60.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $1.44 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,667 shares of company stock valued at $33,964,256. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Alphabet Company 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.