Marathon Capital Management Sells 75 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Marathon Capital Management cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,230 shares of the information services provider’s stock after selling 75 shares during the quarter. Marathon Capital Management’s holdings in Alphabet were worth $1,317,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter worth about $36,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the first quarter worth about $30,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 217,592 shares of company stock worth $35,922,911. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $164.38 on Wednesday. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 25.21, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a 50-day simple moving average of $161.93 and a 200-day simple moving average of $167.52. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the business earned $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Analysts Set New Price Targets

Several analysts have weighed in on GOOGL shares. UBS Group boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, August 30th. Mizuho upped their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lowered their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Finally, Evercore ISI cut their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $201.14.

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.