John L. Hennessy Sells 200 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares of the company’s stock, valued at $1,232,544.70. The trade was a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Alphabet Stock Down 1.7 %

GOOGL opened at $156.31 on Wednesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.34 and a beta of 1.03. The firm’s 50-day simple moving average is $167.17 and its 200-day simple moving average is $176.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. KeyCorp decreased their price target on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Piper Sandler dropped their price target on shares of Alphabet from $208.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Citigroup lowered their target price on Alphabet from $229.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wedbush set a $190.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.72.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in shares of Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after acquiring an additional 337,031 shares during the last quarter. Quantinno Capital Management LP raised its position in Alphabet by 22.8% in the 3rd quarter. Quantinno Capital Management LP now owns 639,077 shares of the information services provider’s stock worth $105,991,000 after purchasing an additional 118,857 shares during the last quarter. Sassicaia Capital Advisers LLC acquired a new position in Alphabet during the 3rd quarter worth $315,000. Stevens Capital Management LP boosted its position in Alphabet by 287.7% in the 3rd quarter. Stevens Capital Management LP now owns 104,085 shares of the information services provider’s stock valued at $17,262,000 after buying an additional 77,235 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Company Profile

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.