John Kent Walker Sells 21,467 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Alphabet Stock Up 0.5 %

Shares of NASDAQ:GOOG traded up $0.79 during trading hours on Thursday, hitting $158.60. The company’s stock had a trading volume of 14,126,238 shares, compared to its average volume of 20,146,398. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 1.22 and a beta of 1.05. The firm’s fifty day moving average price is $173.69 and its 200 day moving average price is $165.59.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Rosenblatt Securities cut shares of 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. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $182.86.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GOOG. Gilbert & Cook Inc. grew its position in Alphabet by 15.5% during the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after purchasing an additional 3,924 shares during the last quarter. Concentrum Wealth Management boosted its holdings in shares of Alphabet by 25.0% in the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after acquiring an additional 3,283 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Alphabet by 2.4% in the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after acquiring an additional 154 shares during the last quarter. Meridian Wealth Advisors LLC boosted its holdings in shares of Alphabet by 0.5% in the 4th quarter. Meridian Wealth Advisors LLC now owns 17,950 shares of the information services provider’s stock valued at $2,530,000 after acquiring an additional 84 shares during the last quarter. Finally, Bogart Wealth LLC boosted its holdings in shares of Alphabet by 8.2% in the 4th quarter. Bogart Wealth LLC now owns 3,287 shares of the information services provider’s stock valued at $463,000 after acquiring an additional 248 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

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.