Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy Sells 1,500 Shares

Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the sale, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Alphabet Stock Performance

NASDAQ GOOG opened at $166.90 on Wednesday. The stock’s fifty day moving average is $163.05 and its two-hundred day moving average is $169.57. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. TD Cowen lifted 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. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. UBS Group reduced their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Finally, Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Hedge Funds Weigh In On Alphabet

Large investors have recently modified their holdings of the business. Richardson Financial Services Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $34,000. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the 2nd quarter valued at $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in shares of Alphabet in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.