Insider Selling: Alphabet (NASDAQ:GOOG) Director Sells 1,050 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGGet Free Report) Director John Hennessy sold 1,050 shares of Alphabet stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total transaction of $348,232.50. Following the transaction, the director directly owned 3,581 shares of the company’s stock, valued at approximately $1,187,638.65. This trade represents a 22.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Alphabet Stock Performance

Shares of GOOG stock opened at $339.40 on Monday. The company has a market capitalization of $4.11 trillion, a price-to-earnings ratio of 31.40, a PEG ratio of 2.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. Alphabet Inc. has a 52 week low of $148.40 and a 52 week high of $350.15. The company has a 50-day simple moving average of $305.98 and a 200 day simple moving average of $302.30.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.23. The company had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.15 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Hedge Funds Weigh In On Alphabet

Large investors have recently modified their holdings of the company. Imprint Wealth LLC bought a new position in Alphabet in the 3rd quarter valued at $31,000. Manning & Napier Advisors LLC bought a new position in shares of Alphabet during the 3rd quarter valued at about $32,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at about $38,000. Lifetime Wealth Management P.C. bought a new stake in Alphabet in the 4th quarter worth approximately $38,000. Finally, Tripletail Wealth Management LLC purchased a new stake in Alphabet in the third quarter worth approximately $40,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOG. DZ Bank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Monday, February 16th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $345.00 target price on shares of Alphabet in a research report on Thursday, February 5th. UBS Group restated a “neutral” rating and set a $348.00 price target (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $370.00 target price on shares of Alphabet in a research report on Tuesday, January 20th. Finally, Canaccord Genuity Group upped their price target on shares of Alphabet from $330.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Eight analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $346.03.

View Our Latest Research Report on GOOG

About Alphabet

(Get Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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