Alphabet Inc. (NASDAQ:GOOG) Director Sells $70,710.38 in Stock

Alphabet Inc. (NASDAQ:GOOGGet Rating) Director John L. Hennessy sold 31 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total transaction of $70,710.38. Following the transaction, the director now directly owns 265 shares in the company, valued at $604,459.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of GOOG opened at $2,291.69 on Wednesday. Alphabet Inc. has a 1-year low of $2,230.05 and a 1-year high of $3,042.00. The stock has a market cap of $1.51 trillion, a PE ratio of 20.73, a P/E/G ratio of 1.08 and a beta of 1.13. The firm has a 50-day simple moving average of $2,599.39 and a two-hundred day simple moving average of $2,750.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85.

Alphabet shares are set to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter last year, the firm posted $26.29 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 112.62 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in GOOG. Morgan Stanley lifted its stake in Alphabet by 2.1% in the second quarter. Morgan Stanley now owns 2,433,132 shares of the information services provider’s stock worth $6,098,209,000 after acquiring an additional 50,601 shares during the last quarter. Financial Council Asset Management Inc purchased a new position in Alphabet in the third quarter worth approximately $296,000. New World Advisors LLC purchased a new position in Alphabet in the third quarter worth approximately $724,000. EagleClaw Capital Managment LLC lifted its stake in Alphabet by 3.5% in the third quarter. EagleClaw Capital Managment LLC now owns 2,946 shares of the information services provider’s stock worth $7,853,000 after acquiring an additional 99 shares during the last quarter. Finally, Richard Bernstein Advisors LLC lifted its stake in Alphabet by 6.0% in the third quarter. Richard Bernstein Advisors LLC now owns 7,761 shares of the information services provider’s stock worth $20,685,000 after acquiring an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 31.20% of the company’s stock.

Several research firms have issued reports on GOOG. Wedbush reaffirmed an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Oppenheimer reissued an “outperform” rating and issued a $3,290.00 price target on shares of Alphabet in a research note on Thursday, April 28th. Jefferies Financial Group raised their price target on shares of Alphabet from $3,500.00 to $3,600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 2nd. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. Finally, Monness Crespi & Hardt raised their price target on shares of Alphabet from $3,660.00 to $3,850.00 and gave the stock a “buy” rating in a research note on Wednesday, February 2nd. One investment analyst has rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Buy” and an average target price of $3,308.77.

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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