Alphabet Inc. (NASDAQ:GOOGL) SVP Sells $5,570,188.20 in Stock

Alphabet Inc. (NASDAQ:GOOGL) SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Prabhakar Raghavan also recently made the following trade(s):

• On Monday, July 1st, Prabhakar Raghavan sold 3,262 shares of Alphabet stock. The shares were sold at an average price of $183.99, for a total value of $600,175.38.

Alphabet Trading Up 1.0 %

Shares of NASDAQ:GOOGL opened at $162.96 on Monday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.99, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The business’s fifty day simple moving average is $175.78 and its 200-day simple moving average is $162.51.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm earned $1.44 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Institutional Trading of Alphabet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC increased its stake in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC increased its stake in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in 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 buying an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC increased its stake in Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after buying an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. increased its stake in Alphabet by 1.0% during the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GOOGL shares. KeyCorp raised their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, August 14th. Truist Financial raised their price target on Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, TD Securities raised their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $203.74.

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.