Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) Director Sells 2,100 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alphabet Stock Performance

GOOGL stock traded up $15.95 during trading on Friday, hitting $171.95. The company had a trading volume of 64,637,980 shares, compared to its average volume of 30,650,268. Alphabet Inc. has a 1-year low of $103.54 and a 1-year high of $174.71. The firm has a 50-day moving average price of $147.22 and a 200-day moving average price of $141.16. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.14 trillion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. On average, analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet in the fourth quarter worth $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the fourth quarter worth about $38,000. Meritage Group LP increased its holdings in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC lifted its position in shares of Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. Rosenblatt Securities lifted their price objective on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday. Citigroup lifted their price target on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Redburn Atlantic increased their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.82.

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.