Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now directly owns 29,324 shares of the company's stock, valued at $4,838,460. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Alphabet Price Performance
GOOGL opened at $166.67 on Tuesday. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.56, a PEG ratio of 1.28 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a 50-day moving average price of $175.61 and a 200-day moving average price of $162.69.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Equities analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet's dividend payout ratio is currently 12.27%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on GOOGL shares. TD Cowen increased their price target on Alphabet from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 26th. Susquehanna raised their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a "positive" rating in a report on Monday, April 29th. Wolfe Research began coverage on shares of Alphabet in a research note on Tuesday, July 16th. They issued an "outperform" rating and a $240.00 target price on the stock. Argus raised their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group increased their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $203.74.
Check Out Our Latest Research Report on GOOGL
Institutional Trading of Alphabet
Several hedge funds have recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the fourth quarter worth $30,000. Tributary Capital Management LLC purchased a new position in Alphabet during the first quarter valued at $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at $36,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth about $38,000. 40.03% of the stock is owned by institutional investors.
About Alphabet
(
Get Free Report)
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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