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 Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Alphabet Stock Performance

Shares of GOOG opened at $167.63 on Thursday. 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 stock has a market cap of $2.07 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.28 and a beta of 1.05. The business’s 50 day moving average price is $176.79 and its 200-day moving average price is $164.34. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth $8,232,000. AIA Group Ltd boosted its holdings in shares of Alphabet by 11.5% during the 4th quarter. AIA Group Ltd now owns 65,052 shares of the information services provider’s stock valued at $9,168,000 after acquiring an additional 6,694 shares during the last quarter. Tiller Private Wealth Inc. grew its stake in shares of Alphabet by 3.1% in the fourth quarter. Tiller Private Wealth Inc. now owns 2,709 shares of the information services provider’s stock worth $382,000 after acquiring an additional 82 shares during the period. Xponance Inc. raised its holdings in shares of Alphabet by 0.5% during the fourth quarter. Xponance Inc. now owns 1,172,172 shares of the information services provider’s stock valued at $165,194,000 after purchasing an additional 5,980 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in Alphabet by 13.5% during the fourth quarter. Fidelis Capital Partners LLC now owns 62,414 shares of the information services provider’s stock valued at $8,796,000 after purchasing an additional 7,413 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. TD Cowen raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $182.86.

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.