Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) Director Sells $115,500.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 29,324 shares in the company, valued at $4,838,460. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alphabet Stock Down 0.8 %

Shares of NASDAQ GOOGL opened at $165.85 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a 50-day moving average price of $175.18 and a 200-day moving average price of $162.89.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the business earned $1.44 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GOOGL shares. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. Canaccord Genuity Group lifted their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Piper Sandler upped their price target on Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Robert W. Baird raised their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Institutional Investors Weigh In On Alphabet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management grew its holdings in shares of Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after acquiring an additional 76,410 shares in the last quarter. Robbins Farley grew its stake in Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $787,000. CKW Financial Group raised its stake in shares of Alphabet by 5.8% during the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after purchasing an additional 760 shares during the period. Finally, Colton Groome Financial Advisors LLC boosted its holdings in shares of Alphabet by 3.8% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after buying an additional 100 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.