Rep. Rick Larsen Buys Alphabet Inc. (NASDAQ:GOOGL) Stock

Representative Rick Larsen (D-Washington) recently bought shares of Alphabet Inc. (NASDAQ:GOOGL). In a filing disclosed on January 14th, the Representative disclosed that they had bought between $1,001 and $15,000 in Alphabet stock on January 7th.

Representative Rick Larsen also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Cintas (NASDAQ:CTAS) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of Booz Allen Hamilton (NYSE:BAH) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of Comcast (NASDAQ:CMCSA) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Broadridge Financial Solutions (NYSE:BR) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Verisk Analytics (NASDAQ:VRSK) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 1/7/2025.
• Sold $1,001 – $15,000 in shares of General Dynamics (NYSE:GD) on 1/7/2025.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $195.55 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The stock has a market cap of $2.39 trillion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. The stock has a fifty day moving average of $183.45 and a 200-day moving average of $173.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. Equities research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Stifel Nicolaus boosted their target price on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GOOGL. LMR Partners LLP purchased a new stake in shares of Alphabet in the 3rd quarter worth about $32,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter worth about $41,000. Quarry LP bought a new stake in Alphabet during the 2nd quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet during the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC raised its position in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 in the last quarter. 11.55% of the stock is owned by company insiders.

About Representative Larsen

Rick Larsen (Democratic Party) is a member of the U.S. House, representing Washington’s 2nd Congressional District. He assumed office on January 3, 2001. His current term ends on January 3, 2025. Larsen (Democratic Party) is running for re-election to the U.S. House to represent Washington’s 2nd Congressional District. He declared candidacy for the primary scheduled on August 6, 2024. Since at least 2011, Larsen has been assigned to the Committee on Armed Services and the Committee on Transportation and Infrastructure. Larsen’s first position as an elected official was in 1998 as a member of the Snohomish County Council. Larsen earned his bachelor’s degree from Pacific Lutheran University. After earning his master’s degree in public affairs from the University of Minnesota, Larsen worked as the director of public affairs for the Washington State Dental Association and then as an economic development official with the Port of Everett. He went on to serve on the Snohomish County Council before seeking election to the U.S. House.

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.