John Hennessy Sells 600 Shares of Alphabet (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alphabet Stock Up 3.1%

Alphabet stock traded up $8.61 during mid-day trading on Monday, hitting $285.02. 52,563,113 shares of the company’s stock were exchanged, compared to its average volume of 35,827,348. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $293.95. The stock has a 50 day moving average of $257.24 and a two-hundred day moving average of $209.28. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.44 trillion, a P/E ratio of 28.11, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Citizens Jmp raised their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Robert W. Baird lifted their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. KeyCorp reissued an “overweight” rating and set a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Finally, CICC Research raised their price target on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $31,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

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.