Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram Sells 10,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Kavitark Ram Shriram also recently made the following trade(s):

• On Wednesday, October 30th, Kavitark Ram Shriram sold 10,500 shares of Alphabet stock. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00.

Alphabet Stock Up 2.2 %

Shares of NASDAQ GOOG opened at $182.28 on Friday. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The firm has a market cap of $2.24 trillion, a price-to-earnings ratio of 24.18, a PEG ratio of 1.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s 50-day simple moving average is $164.24 and its 200-day simple moving average is $170.89.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOG shares. Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in GOOG. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter valued at $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the second quarter valued at $40,000. Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the second quarter valued at $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

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.