Alphabet Inc. (NASDAQ:GOOG) SVP Prabhakar Raghavan Sells 3,262 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Alphabet Trading Up 1.1 %

Shares of GOOG opened at $186.61 on Wednesday. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.50. The company has a 50-day moving average of $174.93 and a 200 day moving average of $156.20. The firm has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the business posted $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Institutional Investors Weigh In On Alphabet

Several large investors have recently modified their holdings of the business. Modus Advisors LLC raised its holdings in shares of Alphabet by 1.5% in the 2nd quarter. Modus Advisors LLC now owns 38,941 shares of the information services provider’s stock valued at $7,142,000 after purchasing an additional 578 shares in the last quarter. Marcum Wealth LLC raised its holdings in shares of Alphabet by 3.6% in the 2nd quarter. Marcum Wealth LLC now owns 17,726 shares of the information services provider’s stock valued at $3,251,000 after purchasing an additional 622 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of Alphabet by 1.7% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 112,504 shares of the information services provider’s stock valued at $20,635,000 after purchasing an additional 1,831 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Alphabet by 3.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 219,447 shares of the information services provider’s stock valued at $40,251,000 after purchasing an additional 6,469 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Alphabet by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 53,976 shares of the information services provider’s stock valued at $9,900,000 after purchasing an additional 16,713 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.86.

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.