Alphabet (NASDAQ:GOOGL) Insider Sells $4,408,034.72 in Stock

Alphabet Inc. (NASDAQ:GOOGL) insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

John Kent Walker also recently made the following trade(s):

• On Monday, August 4th, John Kent Walker sold 23,820 shares of Alphabet stock. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00.

Alphabet Stock Performance

NASDAQ GOOGL opened at $245.69 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50 day simple moving average is $220.21 and its 200-day simple moving average is $185.22. The company has a market cap of $2.97 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently modified their holdings of GOOGL. Mystic Asset Management Inc. grew its holdings in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co grew its stake in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC increased its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC boosted its holdings in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. KeyCorp boosted their target price on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Guggenheim upped their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Moffett Nathanson increased their price target on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Finally, Bank of America boosted their price objective on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $240.76.

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.