Alphabet Inc. (NASDAQ:GOOGL) Director Sells $6,870,532.68 in Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kavitark Ram Shriram also recently made the following trade(s):

• On Thursday, November 7th, Kavitark Ram Shriram sold 10,500 shares of Alphabet stock. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00.
• On Wednesday, October 30th, Kavitark Ram Shriram sold 10,500 shares of Alphabet stock. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00.

Alphabet Stock Performance

Shares of GOOGL stock opened at $191.96 on Friday. The stock has a 50 day simple moving average of $170.66 and a 200-day simple moving average of $170.46. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $195.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Institutional Investors Weigh In On Alphabet

Several institutional investors and hedge funds have recently made changes to their positions in GOOGL. New Hampshire Trust raised its stake in Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Schear Investment Advisers LLC boosted its position in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC raised its holdings in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. boosted its holdings in shares of Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares during the last quarter. Finally, abrdn plc grew its position in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GOOGL shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Tuesday. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, JMP Securities increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $206.08.

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.