Alphabet Inc. (NASDAQ:GOOGL) Director Kavitark Ram Shriram Sells 10,500 Shares

Alphabet Inc. (NASDAQ:GOOGL) Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Alphabet Trading Up 2.4 %

Shares of GOOGL opened at $180.75 on Friday. The stock has a fifty day moving average price of $162.86 and a two-hundred day moving average price of $169.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a market cap of $2.23 trillion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the firm posted $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Veracity Capital LLC raised its stake in Alphabet by 7.2% during the 1st quarter. Veracity Capital LLC now owns 19,902 shares of the information services provider’s stock worth $3,004,000 after buying an additional 1,345 shares during the period. Teamwork Financial Advisors LLC raised its stake in shares of Alphabet by 11.0% in the first quarter. Teamwork Financial Advisors LLC now owns 98,044 shares of the information services provider’s stock worth $14,798,000 after purchasing an additional 9,701 shares during the last quarter. GenTrust LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $755,000. Horizon Bancorp Inc. IN grew its holdings in Alphabet by 4.1% during the first quarter. Horizon Bancorp Inc. IN now owns 2,193 shares of the information services provider’s stock valued at $331,000 after purchasing an additional 87 shares during the period. Finally, FORVIS Wealth Advisors LLC grew its holdings in Alphabet by 32.9% during the first quarter. FORVIS Wealth Advisors LLC now owns 99,625 shares of the information services provider’s stock valued at $15,036,000 after purchasing an additional 24,672 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Roth Mkm raised their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Mizuho boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Bank of America boosted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.90.

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.