John L. Hennessy Sells 800 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

by · The Markets Daily

Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The transaction was disclosed in a filing with the SEC, which is available through this link.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $159.81 on Thursday. The company has a 50 day moving average of $165.62 and a 200 day moving average of $165.13. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.97 trillion, a P/E ratio of 24.51, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business earned $1.44 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is currently 12.27%.

Institutional Trading of Alphabet

A number of large investors have recently modified their holdings of the business. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at about $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the 4th quarter worth approximately $30,000. Finally, Denver PWM LLC purchased a new stake in Alphabet in the second quarter worth approximately $41,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Evercore ISI reduced their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Check Out Our Latest Stock Analysis on Alphabet

Alphabet Company Profile

(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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