Insider Selling: Alphabet (NASDAQ:GOOG) Director Sells $145,752.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) Director John Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alphabet Trading Up 0.8%

GOOG stock opened at $253.79 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.58. The stock has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The firm’s fifty day simple moving average is $232.18 and its two-hundred day simple moving average is $192.73.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Analysts Set New Price Targets

GOOG has been the topic of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOG. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $26,000. IFS Advisors LLC lifted its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Finally, Fairman Group LLC lifted its position in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

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.