Alphabet Inc. (NASDAQ:GOOG) Director Sells $115,500.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded up $0.57 on Tuesday, reaching $163.64. 18,764,714 shares of the company’s stock were exchanged, compared to its average volume of 20,193,020. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The business’s 50-day moving average is $165.76 and its two-hundred day moving average is $167.46. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. 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%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. Oppenheimer upped their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. increased its stake in Alphabet by 15.5% during the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after buying an additional 3,924 shares during the period. Concentrum Wealth Management lifted its holdings in shares of Alphabet by 25.0% in the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after purchasing an additional 3,283 shares in the last quarter. Aveo Capital Partners LLC boosted its position in Alphabet by 2.4% during the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after acquiring an additional 154 shares during the period. Mitchell Sinkler & Starr PA grew its position in Alphabet by 79.4% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 9,510 shares of the information services provider’s stock valued at $1,340,000 after purchasing an additional 4,210 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $577,000. 27.26% of the stock is currently owned by institutional investors.

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.