Alphabet Inc. (NASDAQ:GOOG) Director Sells $369,096.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alphabet Price Performance

NASDAQ:GOOG traded up $15.74 during mid-day trading on Friday, reaching $173.69. The stock had a trading volume of 56,480,490 shares, compared to its average volume of 22,643,539. The stock has a 50-day simple moving average of $148.48 and a two-hundred day simple moving average of $142.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 12 month low of $104.42 and a 12 month high of $176.42. The stock has a market capitalization of $2.16 trillion, a PE ratio of 29.81, a P/E/G ratio of 1.48 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the company posted $1.17 EPS. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 6.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Veracity Capital LLC lifted its stake in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its holdings in Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after acquiring an additional 1,230 shares during the last quarter. Washington Trust Bank increased its position in Alphabet by 33.0% in the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after acquiring an additional 1,826 shares during the period. CNB Bank increased its position in Alphabet by 6.6% in the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after acquiring an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC raised its position in Alphabet by 1.9% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $159.86.

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.