Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy Sells 700 Shares

Alphabet Inc. (NASDAQ:GOOG) 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 transaction of $115,500.00. Following the sale, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Alphabet Price Performance

Shares of Alphabet stock traded up $0.57 during trading on Tuesday, reaching $163.64. The company’s stock had a trading volume of 18,764,714 shares, compared to its average volume of 20,193,020. 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 business has a 50 day moving average price of $165.76 and a 200-day moving average price of $167.46. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a market capitalization of $2.02 trillion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released 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 business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given 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 was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Three investment 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 company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at about $34,000. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at $40,000. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the 2nd quarter worth $44,000. 27.26% of the stock is currently 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.