Alphabet (NASDAQ:GOOGL) Director Sells $348,232.50 in Stock

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) Director John Hennessy sold 1,050 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director directly owned 3,581 shares of the company’s stock, valued at approximately $1,187,638.65. The trade was a 22.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Alphabet Price Performance

NASDAQ GOOGL opened at $341.68 on Monday. The business has a 50 day simple moving average of $306.82 and a 200 day simple moving average of $302.17. Alphabet Inc. has a 52-week low of $146.10 and a 52-week high of $349.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The stock has a market cap of $4.13 trillion, a price-to-earnings ratio of 31.61, a PEG ratio of 2.11 and a beta of 1.12.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s dividend payout ratio is presently 7.77%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOGL shares. Evercore reissued an “outperform” rating and set a $400.00 target price (up from $325.00) on shares of Alphabet in a research note on Thursday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $370.00 price target on shares of Alphabet in a research report on Wednesday, April 8th. Bank of America upped their price target on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Arete Research upped their price target on Alphabet from $380.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Rosenblatt Securities upped their price target on Alphabet from $279.00 to $357.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $368.25.

Check Out Our Latest Analysis on Alphabet

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Hedge Funds Weigh In On Alphabet

A number of large investors have recently bought and sold shares of GOOGL. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $32,000. EMC Capital Management acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $33,000. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. Finally, Bard Associates Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOGL)

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