Insider Selling: Alphabet Inc. (NASDAQ:GOOG) Major Shareholder Sells 544,249 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGGet Rating) major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.16, for a total value of $6,073,818.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

NASDAQ GOOG traded down $28.44 during trading hours on Tuesday, hitting $2,567.49. The company had a trading volume of 1,148,757 shares, compared to its average volume of 1,538,691. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.91 and a current ratio of 2.93. Alphabet Inc. has a 1-year low of $2,230.05 and a 1-year high of $3,042.00. The company has a market cap of $1.70 trillion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The business has a 50 day moving average of $2,720.17 and a 200-day moving average of $2,801.14.

Alphabet shares are going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last announced its earnings results on Monday, January 31st. The information services provider reported $30.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $26.69 by $4.00. The firm had revenue of $75.33 billion for the quarter, compared to analyst estimates of $71.81 billion. Alphabet had a net margin of 29.51% and a return on equity of 31.56%. Alphabet’s revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the business earned $22.30 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 117.32 earnings per share for the current fiscal year.

Several analysts recently weighed in on the stock. Tigress Financial lifted their target price on shares of Alphabet from $3,540.00 to $3,670.00 in a report on Friday, March 18th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $3,250.00 to $3,450.00 and gave the company an “overweight” rating in a report on Wednesday, February 2nd. Jefferies Financial Group upped their target price on shares of Alphabet from $3,500.00 to $3,600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 2nd. Cowen upped their price target on shares of Alphabet from $3,500.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, February 2nd. Finally, Credit Suisse Group upped their price objective on shares of Alphabet from $3,400.00 to $3,500.00 and gave the company an “outperform” rating in a research note on Wednesday, February 2nd. Three equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $3,309.71.

Several large investors have recently modified their holdings of the company. Strategic Asset Management LLC bought a new stake in Alphabet in the third quarter worth approximately $28,000. Hoese & Co LLP raised its stake in shares of Alphabet by 400.0% in the 4th quarter. Hoese & Co LLP now owns 10 shares of the information services provider’s stock valued at $29,000 after buying an additional 8 shares in the last quarter. Maryland Capital Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $29,000. Rather & Kittrell Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $34,000. Finally, Paragon Capital Management Ltd bought a new stake in Alphabet during the 4th quarter worth about $35,000. 30.76% of the stock is owned by institutional investors.

About Alphabet (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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