Alphabet Inc. (NASDAQ:GOOGL) Director Sells $123,000.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 800 shares of the stock in a transaction dated Thursday, September 12th. The stock was 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 directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $159.81 on Thursday. 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 company has a market capitalization of $1.97 trillion, a PE ratio of 24.51, a PEG ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average is $165.62 and its 200 day moving average is $165.13. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is 12.27%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Guggenheim increased their price target on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research report on Monday. Citigroup upped their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. Eight investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.08.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% during 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 shares of Alphabet in the 4th quarter worth about $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at about $36,000. Finally, Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter valued at about $41,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.