Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram Sells 10,500 Shares

Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Kavitark Ram Shriram also recently made the following trade(s):

• On Wednesday, October 30th, Kavitark Ram Shriram sold 10,500 shares of Alphabet stock. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00.

Alphabet Trading Down 1.3 %

GOOG stock opened at $179.86 on Friday. The firm’s fifty day simple moving average is $164.92 and its two-hundred day simple moving average is $171.12. The stock has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. As a group, analysts anticipate that Alphabet Inc. will post 7.97 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of the business. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in Alphabet in the 2nd quarter worth about $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the second quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. raised its stake in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the second quarter valued at approximately $44,000. 27.26% of the stock is owned by institutional investors.

About Alphabet

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.