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

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 700 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 27,824 shares of the company’s stock, valued at $4,590,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $162.73 on Friday. The company has a market cap of $2.01 trillion, a P/E ratio of 24.96, a P/E/G ratio of 1.21 and a beta of 1.04. The business has a fifty day simple moving average of $163.41 and a 200-day simple moving average of $166.14. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the business earned $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Piper Sandler lowered their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Morgan Stanley reduced their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, DA Davidson assumed coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.35.

Institutional Trading of Alphabet

Institutional investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% during the 2nd 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 in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter worth approximately $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the second quarter worth $36,000. Finally, Denver PWM LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at $41,000. 40.03% of the stock is owned by hedge funds and other 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.