Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy Sells 800 Shares

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 800 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $158.06 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The business has a 50 day moving average price of $166.84 and a two-hundred day moving average price of $165.01. The firm has a market cap of $1.95 trillion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company earned $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Hedge Funds Weigh In On Alphabet

Large investors have recently modified their holdings of the stock. Collaborative Wealth Managment Inc. bought a new position in Alphabet during the 4th quarter worth approximately $213,000. Johnson Investment Counsel Inc. raised its position in shares of Alphabet by 2.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 1,343,499 shares of the information services provider’s stock valued at $187,673,000 after acquiring an additional 30,212 shares in the last quarter. Strategic Advocates LLC raised its position in shares of Alphabet by 48.0% during the 4th quarter. Strategic Advocates LLC now owns 14,092 shares of the information services provider’s stock valued at $1,969,000 after acquiring an additional 4,571 shares in the last quarter. Invst LLC lifted its stake in Alphabet by 3.2% during the fourth quarter. Invst LLC now owns 24,479 shares of the information services provider’s stock worth $3,527,000 after purchasing an additional 753 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Alphabet by 9.0% in the fourth quarter. QRG Capital Management Inc. now owns 812,598 shares of the information services provider’s stock worth $113,512,000 after purchasing an additional 66,859 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GOOGL shares. Piper Sandler dropped their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Monday. Roth Mkm reissued a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Tigress Financial increased their price objective on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

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.