Scoggin Management LP Buys 2,500 Shares of Alphabet Inc. $GOOG

Key Points

• Scoggin Management LP increased its holdings in Alphabet Inc. by 33.3%, acquiring an additional 2,500 shares, bringing their total to 10,000 shares valued at approximately $1.56 million.
• Alphabet reported a quarterly earnings beat with $2.31 EPS against an expected $2.12, and a revenue of $96.43 billion exceeding expectations of $93.67 billion.
• The company announced a quarterly dividend of $0.21 per share, representing an annual yield of 0.4%, with the payment date set for September 15th.

Scoggin Management LP boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the information services provider's stock after purchasing an additional 2,500 shares during the period. Alphabet comprises 0.4% of Scoggin Management LP's holdings, making the stock its 29th biggest holding. Scoggin Management LP's holdings in Alphabet were worth $1,562,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GOOG. Brighton Jones LLC lifted its position in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after acquiring an additional 20,855 shares during the period. Algert Global LLC increased its stake in shares of Alphabet by 7.0% in the fourth quarter. Algert Global LLC now owns 39,842 shares of the information services provider's stock worth $7,588,000 after acquiring an additional 2,612 shares during the period. BNP Paribas boosted its holdings in Alphabet by 6.2% during the fourth quarter. BNP Paribas now owns 424,888 shares of the information services provider's stock worth $81,158,000 after buying an additional 24,813 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Alphabet by 1.4% during the fourth quarter. Benjamin Edwards Inc. now owns 124,933 shares of the information services provider's stock worth $23,792,000 after buying an additional 1,741 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,210 shares of company stock worth $41,742,155. Company insiders own 12.99% of the company's stock.

Alphabet Trading Up 9.0%

GOOG traded up $19.11 on Wednesday, reaching $231.10. 70,779,743 shares of the company's stock were exchanged, compared to its average volume of 17,654,292. The company has a market cap of $2.79 trillion, a price-to-earnings ratio of 22.74, a PEG ratio of 1.44 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $231.80. The company's 50 day moving average is $193.15 and its 200-day moving average is $175.85. 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 (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the prior year, the business posted $1.89 EPS. The business's revenue was up 13.8% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's payout ratio is 8.95%.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Raymond James Financial restated an "outperform" rating and set a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $227.56.

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.