John L. Hennessy Sells 700 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now owns 27,824 shares in the company, valued at $4,590,960. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Alphabet Stock Down 0.4 %

GOOG stock opened at $162.99 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.01 trillion, a PE ratio of 25.01, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a 50-day simple moving average of $165.32 and a two-hundred day simple moving average of $167.65.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GOOG. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares in the last quarter. Swedbank AB purchased a new position in shares of Alphabet during the first quarter worth about $1,378,708,000. Capital International Investors grew its holdings in shares of Alphabet by 9.3% during 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 51.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares in the last quarter. Finally, Vima LLC grew its holdings in shares of Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $179.29.

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.