Ruth Porat Sells 48,077 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOGGet Free Report) CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alphabet Stock Performance

NASDAQ:GOOG opened at $136.29 on Friday. The stock has a market cap of $1.69 trillion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $143.45 and its 200-day moving average is $138.32. Alphabet Inc. has a 1-year low of $89.94 and a 1-year high of $155.20.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $146.33.

Read Our Latest Research Report on GOOG

Institutional Trading of Alphabet

Several institutional investors have recently added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC boosted its holdings in shares of Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares in the last quarter. FMR LLC raised its position in shares of Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after purchasing an additional 4,348,188 shares during the period. Geode Capital Management LLC raised its position in shares of Alphabet by 0.9% during the second quarter. Geode Capital Management LLC now owns 98,217,816 shares of the information services provider’s stock worth $11,846,230,000 after purchasing an additional 882,830 shares during the period. JPMorgan Chase & Co. raised its position in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Finally, Capital International Investors raised its position in Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after buying an additional 862,550 shares during the last quarter. 27.13% of the stock is currently owned by institutional investors.

Alphabet Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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