Clear Street Derivatives LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

Clear Street Derivatives LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the third quarter, according to its most recent filing with the SEC. The fund acquired 44,933 shares of the information services provider’s stock, valued at approximately $7,512,000. Alphabet makes up 0.1% of Clear Street Derivatives LLC’s holdings, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. Boston Partners boosted its position in shares of Alphabet by 21.2% in the first quarter. Boston Partners now owns 32,381 shares of the information services provider’s stock valued at $4,930,000 after acquiring an additional 5,662 shares during the period. Insight Wealth Strategies LLC lifted its stake in Alphabet by 1.7% in the 2nd quarter. Insight Wealth Strategies LLC now owns 5,038 shares of the information services provider’s stock worth $924,000 after purchasing an additional 84 shares in the last quarter. Eastover Investment Advisors LLC boosted its holdings in Alphabet by 0.7% in the 2nd quarter. Eastover Investment Advisors LLC now owns 56,297 shares of the information services provider’s stock valued at $10,506,000 after purchasing an additional 381 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Alphabet by 38.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 78,637 shares of the information services provider’s stock valued at $14,424,000 after purchasing an additional 21,787 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in shares of Alphabet by 9.6% in the second quarter. Kingswood Wealth Advisors LLC now owns 76,782 shares of the information services provider’s stock worth $14,083,000 after purchasing an additional 6,706 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,673,866 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $170.49 on Monday. The company has a market capitalization of $2.09 trillion, a P/E ratio of 22.61, a PEG ratio of 1.19 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day moving average price of $169.98 and a two-hundred day moving average price of $171.82.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 EPS. Analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GOOG shares. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.