Kavitark Ram Shriram Sells 29,066 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kavitark Ram Shriram also recently made the following trade(s):

• On Tuesday, December 10th, Kavitark Ram Shriram sold 37,134 shares of Alphabet stock. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68.

Alphabet Trading Up 0.8 %

Shares of NASDAQ:GOOGL opened at $185.19 on Thursday. The stock has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day simple moving average is $192.81 and its two-hundred day simple moving average is $175.49. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s payout ratio is 9.94%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GOOGL. Bennett Selby Investments LP lifted its position in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after buying an additional 52 shares in the last quarter. Macroview Investment Management LLC lifted its position in shares of Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after buying an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after buying an additional 53 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after buying an additional 53 shares in the last quarter. Finally, Addison Advisors LLC lifted its position in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after buying an additional 53 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wells Fargo & Company raised their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Citigroup dropped their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Roth Mkm increased their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

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.