Alphabet Inc. (NASDAQ:GOOGL) Insider Sells $3,442,233.45 in Stock

Alphabet Inc. (NASDAQ:GOOGL) insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alphabet Price Performance

GOOGL traded up $0.79 during trading on Thursday, reaching $157.24. The company’s stock had a trading volume of 18,675,019 shares, compared to its average volume of 27,598,344. 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 firm has a fifty day simple moving average of $172.04 and a two-hundred day simple moving average of $164.11. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the company posted $1.44 EPS. As a group, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Institutional Trading of Alphabet

Several institutional investors have recently made changes to their positions in GOOGL. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Alphabet during the 4th quarter valued at approximately $1,328,000. Orca Investment Management LLC raised its position in shares of Alphabet by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 19,273 shares of the information services provider’s stock valued at $2,692,000 after buying an additional 1,187 shares during the period. Adell Harriman & Carpenter Inc. raised its position in shares of Alphabet by 2.4% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 133,437 shares of the information services provider’s stock valued at $18,640,000 after buying an additional 3,083 shares during the period. Steele Capital Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at approximately $416,000. Finally, LWM Advisory Services LLC increased its holdings in Alphabet by 5.2% in the 4th quarter. LWM Advisory Services LLC now owns 4,008 shares of the information services provider’s stock valued at $560,000 after purchasing an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOGL. Piper Sandler upped their target price on Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 target price on shares of Alphabet in a research note on Tuesday, August 6th. UBS Group increased their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Mizuho increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $202.81.

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.