Insider Selling: Alphabet (NASDAQ:GOOG) Director Sells $184,914.00 in Stock

Alphabet Inc. (NASDAQ:GOOGGet Free Report) Director John Hennessy sold 600 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $308.19, for a total value of $184,914.00. Following the completion of the transaction, the director directly owned 3,916 shares in the company, valued at approximately $1,206,872.04. This represents a 13.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alphabet Stock Up 1.6%

GOOG opened at $308.61 on Friday. The stock has a fifty day moving average of $289.83 and a 200-day moving average of $234.56. The company has a market capitalization of $3.72 trillion, a P/E ratio of 30.43, a P/E/G ratio of 1.76 and a beta of 1.07. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $328.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the prior year, the company posted $2.12 earnings per share. Alphabet’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Morse Asset Management Inc raised its position in Alphabet by 3.3% in the third quarter. Morse Asset Management Inc now owns 1,093 shares of the information services provider’s stock valued at $266,000 after purchasing an additional 35 shares during the last quarter. Robinson Smith Wealth Advisors LLC increased its stake in shares of Alphabet by 1.8% in the third quarter. Robinson Smith Wealth Advisors LLC now owns 2,070 shares of the information services provider’s stock valued at $504,000 after buying an additional 36 shares during the period. Searle & CO. increased its stake in shares of Alphabet by 0.6% in the third quarter. Searle & CO. now owns 5,703 shares of the information services provider’s stock valued at $1,389,000 after buying an additional 36 shares during the period. Navellier & Associates Inc. raised its holdings in Alphabet by 0.6% in the 3rd quarter. Navellier & Associates Inc. now owns 5,846 shares of the information services provider’s stock valued at $1,424,000 after buying an additional 36 shares during the last quarter. Finally, BankPlus Wealth Management LLC boosted its position in Alphabet by 1.2% during the 3rd quarter. BankPlus Wealth Management LLC now owns 3,143 shares of the information services provider’s stock worth $766,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOG shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Sanford C. Bernstein boosted their price target on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. TD Cowen upped their price objective on shares of Alphabet from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Loop Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $313.04.

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Alphabet Company Profile

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Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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

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