Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram Sells 10,500 Shares

Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $172.65 on Friday. The firm’s 50 day simple moving average is $163.81 and its 200-day simple moving average is $170.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. Alphabet Inc. has a one year low of $128.11 and a one year high of $193.31. The firm has a market cap of $2.13 trillion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business posted $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 7.83 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Institutional Investors Weigh In On Alphabet

Several large investors have recently modified their holdings of the business. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the 2nd quarter worth $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the 2nd quarter worth $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the 2nd quarter worth $44,000. Finally, Hoese & Co LLP boosted its position in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Oppenheimer raised their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.