Insider Selling: Alphabet Inc. (NASDAQ:GOOG) Director Sells $9,831,750.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total value of $9,831,750.00. Following the sale, the director now owns 104,364 shares of the company’s stock, valued at approximately $13,681,076.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alphabet Stock Up 1.8 %

Shares of GOOG opened at $134.06 on Friday. Alphabet Inc. has a one year low of $85.57 and a one year high of $142.38. The company has a market cap of $1.68 trillion, a P/E ratio of 25.73, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01. The firm has a 50 day simple moving average of $134.62 and a two-hundred day simple moving average of $127.29.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet during the third quarter worth $25,000. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter worth $26,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Alphabet during the second quarter worth $31,000. Intrepid Capital Management Inc. bought a new stake in shares of Alphabet during the second quarter worth $31,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Alphabet in the third quarter worth $32,000. 27.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Oppenheimer restated an “outperform” rating and set a $160.00 price objective on shares of Alphabet in a report on Wednesday, October 25th. Robert W. Baird lifted their price target on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Wedbush began coverage on shares of Alphabet in a research report on Monday, August 21st. They issued an “outperform” rating for the company. Finally, Susquehanna lifted their price target on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average price target of $130.69.

About Alphabet

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.