Kavitark Ram Shriram Sells 29,066 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kavitark Ram Shriram also recently made the following trade(s):

• On Tuesday, December 10th, Kavitark Ram Shriram sold 37,134 shares of Alphabet stock. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68.

Alphabet Price Performance

GOOG opened at $186.85 on Friday. The stock has a 50-day moving average price of $194.22 and a 200-day moving average price of $177.08. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.28 trillion, a P/E ratio of 23.21, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Citigroup boosted their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the stock. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter valued at about $27,000. LSV Asset Management bought a new position in Alphabet during the 4th quarter valued at approximately $27,000. Weiss Asset Management LP bought a new position in Alphabet during the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet during the 3rd quarter valued at approximately $33,000. Finally, WealthTrak Capital Management LLC bought a new position in Alphabet during the 4th quarter valued at approximately $38,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

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.