Alphabet Inc. (NASDAQ:GOOGL) Director Sells $247,425.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now directly owns 26,324 shares in the company, valued at $4,342,143.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $165.46 on Wednesday. The company’s 50 day moving average price is $161.63 and its two-hundred day moving average price is $168.07. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The firm has a market cap of $2.04 trillion, a PE ratio of 25.38, a PEG ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the business posted $1.44 EPS. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. UBS Group boosted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Wells Fargo & Company cut their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley cut their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Finally, Mizuho boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.13.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the company. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth approximately $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

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.