David C. Drummond Sells 56,860 Shares of Alphabet Inc (NASDAQ:GOOG) Stock

Alphabet Inc (NASDAQ:GOOG) SVP David C. Drummond sold 56,860 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $1,289.62, for a total transaction of $73,327,793.20. Following the completion of the transaction, the senior vice president now owns 45,806 shares in the company, valued at $59,072,333.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Alphabet stock opened at $1,289.92 on Tuesday. The company has a market capitalization of $900.01 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.59 and a beta of 1.02. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,335.53. The firm’s 50-day moving average price is $1,284.29 and its two-hundred day moving average price is $1,191.68.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.57 by ($2.45). The firm had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.17 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $13.06 earnings per share. On average, sell-side analysts expect that Alphabet Inc will post 49.05 earnings per share for the current year.

GOOG has been the topic of several research reports. ValuEngine downgraded shares of Alphabet from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Oppenheimer upped their price target on shares of Alphabet from $1,370.00 to $1,530.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Monday, October 28th. Deutsche Bank decreased their price target on shares of Alphabet from $1,600.00 to $1,550.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,460.27.

Institutional investors have recently made changes to their positions in the business. First Bank & Trust raised its holdings in Alphabet by 0.8% in the 2nd quarter. First Bank & Trust now owns 1,025 shares of the information services provider’s stock valued at $1,108,000 after buying an additional 8 shares during the last quarter. Scott & Selber Inc. raised its holdings in Alphabet by 0.4% in the 3rd quarter. Scott & Selber Inc. now owns 2,285 shares of the information services provider’s stock valued at $2,785,000 after buying an additional 8 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Alphabet by 0.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 895 shares of the information services provider’s stock valued at $1,091,000 after buying an additional 8 shares during the last quarter. PRW Wealth Management LLC raised its holdings in Alphabet by 1.3% in the 3rd quarter. PRW Wealth Management LLC now owns 639 shares of the information services provider’s stock valued at $778,000 after buying an additional 8 shares during the last quarter. Finally, Bourgeon Capital Management LLC raised its holdings in Alphabet by 1.9% in the 3rd quarter. Bourgeon Capital Management LLC now owns 424 shares of the information services provider’s stock valued at $517,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 33.81% of the company’s stock.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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