Insider Selling: Alphabet (NASDAQ:GOOGL) Director Sells $168,036.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John Hennessy sold 600 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $292.81 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $260.23 and its 200 day moving average price is $211.57. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $303.81. The stock has a market cap of $3.53 trillion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently bought and sold shares of GOOGL. Delta Asset Management LLC TN grew its position in Alphabet by 0.6% during the third quarter. Delta Asset Management LLC TN now owns 6,153 shares of the information services provider’s stock valued at $1,496,000 after acquiring an additional 37 shares during the period. Second Line Capital LLC lifted its stake in shares of Alphabet by 0.8% in the 3rd quarter. Second Line Capital LLC now owns 4,417 shares of the information services provider’s stock valued at $1,074,000 after purchasing an additional 37 shares in the last quarter. Matisse Capital grew its holdings in shares of Alphabet by 0.3% during the 3rd quarter. Matisse Capital now owns 14,814 shares of the information services provider’s stock worth $3,601,000 after purchasing an additional 38 shares during the period. Rialto Wealth Management LLC increased its position in Alphabet by 1.7% during the 3rd quarter. Rialto Wealth Management LLC now owns 2,226 shares of the information services provider’s stock worth $541,000 after purchasing an additional 38 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its position in Alphabet by 0.5% during the 3rd quarter. Hodges Capital Management Inc. now owns 6,963 shares of the information services provider’s stock worth $1,693,000 after purchasing an additional 38 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOGL. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. HSBC boosted their target price on shares of Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Stifel Nicolaus set a $333.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.33.

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.