Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) Director Sells 10,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Alphabet Price Performance

Shares of GOOGL opened at $171.29 on Friday. The stock has a 50 day moving average of $162.43 and a 200-day moving average of $169.01. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 52 week low of $126.93 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.91 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOGL. Evercore ISI upped their price target on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Royal Bank of Canada upped their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim increased their price objective on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Institutional investors own 40.03% of the company’s stock.

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.