Kavitark Ram Shriram Sells 37,500 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG – Get Rating) Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the transaction, the director now owns 144,740 shares in the company, valued at approximately $14,474,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Alphabet Stock Up 1.4 %

GOOG stock opened at $102.46 on Friday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $144.16. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.30 and a beta of 1.09. The company has a 50 day moving average of $95.69 and a two-hundred day moving average of $96.82.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.53 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOOG. Societe Generale reduced their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a report on Friday, February 3rd. Oppenheimer raised their target price on shares of Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, Credit Suisse Group set a $136.00 target price on shares of Alphabet in a report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $137.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. DC Investments Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at $115,000. Guardian Wealth Management Inc. bought a new position in Alphabet in the 1st quarter worth $184,000. Turim 21 Investimentos Ltda. raised its holdings in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the period. qPULA Trading Management LP bought a new position in Alphabet in the 1st quarter worth $279,000. Finally, Global Assets Advisory LLC bought a new position in Alphabet in the 2nd quarter worth $241,000. Institutional investors own 28.69% of the company’s stock.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.