John L. Hennessy Sells 700 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now owns 27,824 shares in the company, valued at $4,590,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alphabet Stock Up 0.3 %

GOOGL stock traded up $0.44 during trading on Tuesday, reaching $162.29. 23,311,061 shares of the company traded hands, compared to its average volume of 27,684,514. The business has a 50 day simple moving average of $164.23 and a 200 day simple moving average of $165.98. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. 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 company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.78, 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, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the business earned $1.44 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GOOGL shares. Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. Wolfe Research assumed coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Truist Financial restated a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research report on Monday, September 16th. Piper Sandler cut their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Finally, Guggenheim increased their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter worth about $30,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $30,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter worth about $36,000. Finally, Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth about $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.