The CEO of Alphabet Inc. (NASDAQ:GOOG) sells $115,500.00 in stock

VaselineAugust 20, 2024

0 3 minutes read

Alphabet Inc. (NASDAQ:GOOG – Get Your Free Report ) Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 in the company, valued at approximately $4,838,460. The transaction was disclosed in a filing with the SEC, which is accessible via this link.

Alphabet stock up 2.2%

GOOG opened at $168.40 on Tuesday. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08. The company has a 50 day moving average of $177.21 and a two hundred day moving average of $164.14.

Alphabet (NASDAQ:GOOG – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $1.44 per share. On average, research analysts expect that Alphabet Inc. to post 7.62 earnings per share for the current year.

Alphabetical announcement of dividends

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The company 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 $0.20 dividend. This represents a dividend of $0.80 on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, September 9. Alphabet’s payout ratio is currently 12.27%.

Institutional investors intervene in the alphabet

A number of institutional investors have recently added to or reduced their stakes in GOOG. Capital International Investors boosted its holdings in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. JPMorgan Chase & Co. boosted its stake in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the period. Capital World Investors boosted its stake in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after acquiring an additional 979,083 shares during the period. Capital Research Global Investors boosted its holdings in shares of Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares during the period. Finally, Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at $4,101,040,000. Hedge funds and other institutional investors own 27.26% of the company’s shares.

Analyst upgrades and downgrades

GOOG has been the subject of several analyst reports. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Oppenheimer upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus price target of $182.86, according to MarketBeat.com.

Read our latest research report on Alphabet

Alphabet Company Profile

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Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.