John Hennessy Sells 600 Shares of Alphabet (NASDAQ:GOOG) Stock

by · The Cerbat Gem

Alphabet Inc. (NASDAQ:GOOG – Get Free Report) Director John Hennessy sold 600 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director directly owned 4,516 shares in the company, valued at $1,264,750.96. This trade represents a 11.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alphabet Price Performance

Shares of Alphabet stock traded up $8.62 during trading on Monday, hitting $285.60. 34,187,446 shares of the company’s stock traded hands, compared to its average volume of 23,355,719. The company has a market cap of $3.45 trillion, a PE ratio of 28.17, a PEG ratio of 1.86 and a beta of 1.05. The firm’s fifty day moving average price is $257.84 and its 200 day moving average price is $210.16. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $294.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 earnings per share. Analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOG. Scotiabank set a $336.00 price target on Alphabet and gave the company a “sector outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Mizuho set a $325.00 target price on shares of Alphabet in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Piper Sandler upped their price objective on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $324.81.

Get Our Latest Report on Alphabet

Institutional Investors Weigh In On Alphabet

Hedge funds have recently added to or reduced their stakes in the stock. IFS Advisors LLC raised its position in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley raised its position in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its stake in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC boosted its holdings in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Finally, University of Illinois Foundation acquired a new stake in Alphabet in the second quarter worth about $31,000. Institutional investors own 27.26% of the company’s stock.

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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