Insider Selling: Alphabet Inc. (NASDAQ:GOOG) Director Sells 800 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alphabet Trading Up 0.3 %

Shares of GOOG traded up $0.47 during midday trading on Monday, hitting $158.84. 8,346,811 shares of the stock were exchanged, compared to its average volume of 20,133,320. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day simple moving average of $169.06 and a 200 day simple moving average of $166.35. The firm has a market cap of $1.96 trillion, a P/E ratio of 24.35, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced 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 analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the business posted $1.44 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently added to or reduced their stakes in the business. Summit Wealth Partners LLC boosted its stake in shares of Alphabet by 9.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 2,290 shares of the information services provider’s stock valued at $420,000 after buying an additional 200 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in Alphabet by 29.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 18,814 shares of the information services provider’s stock valued at $3,451,000 after buying an additional 4,285 shares during the last quarter. SS&H Financial Advisors Inc. raised its stake in Alphabet by 5.4% in the second quarter. SS&H Financial Advisors Inc. now owns 23,470 shares of the information services provider’s stock valued at $4,304,000 after buying an additional 1,200 shares in the last quarter. Cannon Financial Strategists Inc. purchased a new stake in Alphabet during the 2nd quarter worth about $268,000. Finally, Brightwater Advisory LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $444,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. TD Cowen lifted their price target 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. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer upped their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate 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.