Rep. Thomas H. Kean, Jr. Sells Off Shares of Alphabet Inc. (NASDAQ:GOOG)

Representative Thomas H. Kean, Jr. (R-New Jersey) recently sold shares of Alphabet Inc. (NASDAQ:GOOG). In a filing disclosed on January 22nd, the Representative disclosed that they had sold between $1,001 and $15,000 in Alphabet stock on December 19th. The trade occurred in the Representative’s “KEAN FAMILY PARTNERSHIP” account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Canadian Pacific Kansas City (NYSE:CP) on 12/27/2024.
• Purchased $1,001 – $15,000 in shares of Pernod Ricard (OTC:PRNDY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Franklin Resources (NYSE:BEN) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Prologis (NYSE:PLD) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Analog Devices (NASDAQ:ADI) on 12/13/2024.

Alphabet Stock Performance

NASDAQ:GOOG opened at $199.58 on Friday. The firm has a market cap of $2.44 trillion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84. The company has a 50-day moving average of $186.95 and a 200-day moving average of $175.06. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

Large investors have recently modified their holdings of the stock. Providence Capital Advisors LLC lifted its holdings in shares of Alphabet by 54.5% in the second quarter. Providence Capital Advisors LLC now owns 87,333 shares of the information services provider’s stock worth $16,019,000 after buying an additional 30,801 shares in the last quarter. Cheviot Value Management LLC bought a new stake in Alphabet during the 2nd quarter valued at approximately $256,000. Mill Creek Capital Advisors LLC raised its holdings in Alphabet by 7.3% in the second quarter. Mill Creek Capital Advisors LLC now owns 22,025 shares of the information services provider’s stock worth $4,040,000 after purchasing an additional 1,498 shares in the last quarter. Treynor Bancshares Inc. purchased a new position in Alphabet during the 2nd quarter valued at about $211,000. Finally, K2 Principal Fund L.P. increased its position in Alphabet by 350.4% during the 2nd quarter. K2 Principal Fund L.P. now owns 6,756 shares of the information services provider’s stock valued at $1,239,000 after buying an additional 5,256 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

About Representative Kean

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey’s 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey’s 7th Congressional District. He declared candidacy for the 2024 election. Kean has served as state Senate minority leader. He was a member of the New Jersey General Assembly from 2001 to 2003. Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

About Alphabet

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.