Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) Director Sells 31 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGLGet Rating) Director John L. Hennessy sold 31 shares of the stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the sale, the director now owns 265 shares of the company’s stock, valued at $604,459.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

GOOGL opened at $2,287.90 on Wednesday. Alphabet Inc. has a 12-month low of $2,193.62 and a 12-month high of $3,030.93. The stock has a market cap of $1.51 trillion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.08 and a beta of 1.13. The business has a 50 day moving average of $2,590.19 and a 200-day moving average of $2,743.48. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06.

Shares of Alphabet are scheduled to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be issued to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results 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 return on equity of 30.18% and a net margin of 27.57%. During the same period in the prior year, the business posted $26.29 EPS. As a group, analysts expect that Alphabet Inc. will post 112.62 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its stake in Alphabet by 1.2% during the 2nd quarter. Morgan Stanley now owns 3,216,517 shares of the information services provider’s stock worth $7,854,059,000 after acquiring an additional 39,437 shares during the period. New World Advisors LLC increased its stake in Alphabet by 7.5% during the 3rd quarter. New World Advisors LLC now owns 428 shares of the information services provider’s stock worth $1,178,000 after acquiring an additional 30 shares during the period. EagleClaw Capital Managment LLC increased its stake in Alphabet by 1.1% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 1,209 shares of the information services provider’s stock worth $3,232,000 after acquiring an additional 13 shares during the period. qPULA Trading Management LP bought a new position in Alphabet during the 3rd quarter worth $267,000. Finally, Morse Asset Management Inc increased its stake in Alphabet by 1.1% during the 3rd quarter. Morse Asset Management Inc now owns 6,705 shares of the information services provider’s stock worth $17,926,000 after acquiring an additional 75 shares during the period. Institutional investors own 41.70% of the company’s stock.

Several equities research analysts have issued reports on GOOGL shares. Jefferies Financial Group lowered their price target on Alphabet from $3,600.00 to $3,400.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Evercore ISI lowered their price target on Alphabet from $3,500.00 to $3,300.00 and set an “outperform” rating for the company in a report on Wednesday, April 27th. Bank of America increased their price target on Alphabet from $3,470.00 to $3,510.00 and gave the stock a “buy” rating in a report on Wednesday, February 2nd. Barclays lowered their price target on Alphabet from $3,300.00 to $3,200.00 and set an “overweight” rating for the company in a report on Wednesday, April 27th. Finally, MKM Partners decreased their price objective on Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $3,314.08.

Alphabet Company Profile (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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