Alphabet Inc. (NASDAQ:GOOGL) Insider Sells $3,245,761.20 in Stock

Alphabet Inc. (NASDAQ:GOOGL) insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Alphabet Stock Down 2.7 %

Shares of NASDAQ:GOOGL opened at $179.66 on Monday. The business’s 50 day simple moving average is $192.46 and its two-hundred day simple moving average is $175.93. The firm has a market cap of $2.19 trillion, a P/E ratio of 22.32, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Piper Sandler decreased their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Roth Mkm boosted their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reduced their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $210.62.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently modified their holdings of the stock. Cliftonlarsonallen Wealth Advisors LLC increased its position in shares of Alphabet by 27.4% during the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 22,355 shares of the information services provider’s stock valued at $3,708,000 after acquiring an additional 4,811 shares during the last quarter. Occidental Asset Management LLC increased its position in shares of Alphabet by 10.4% during the third quarter. Occidental Asset Management LLC now owns 5,787 shares of the information services provider’s stock valued at $960,000 after acquiring an additional 543 shares during the last quarter. Boomfish Wealth Group LLC increased its position in shares of Alphabet by 4.8% during the third quarter. Boomfish Wealth Group LLC now owns 2,167 shares of the information services provider’s stock valued at $359,000 after acquiring an additional 100 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. increased its position in shares of Alphabet by 1.3% during the third quarter. Arkfeld Wealth Strategies L.L.C. now owns 38,192 shares of the information services provider’s stock valued at $6,380,000 after acquiring an additional 506 shares during the last quarter. Finally, TTP Investments Inc. increased its position in shares of Alphabet by 20.2% during the third quarter. TTP Investments Inc. now owns 17,704 shares of the information services provider’s stock valued at $2,936,000 after acquiring an additional 2,975 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.