Alphabet Inc. (NASDAQ:GOOG) Director Sells $115,500.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Alphabet Price Performance

NASDAQ:GOOG opened at $163.83 on Friday. The business’s 50-day simple moving average is $164.93 and its two-hundred day simple moving average is $167.62. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The stock has a market cap of $2.02 trillion, a PE ratio of 25.13, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the company earned $1.44 EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer decreased their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.29.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the stock. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the fourth quarter worth about $34,000. Abich Financial Wealth Management LLC grew its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $40,000. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the 2nd quarter valued at approximately $44,000. 27.26% 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.