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

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company's stock, valued at approximately $56,765,168.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, October 30th, Kavitark Ram Shriram sold 10,500 shares of Alphabet stock. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00.

Alphabet Stock Performance

GOOGL traded up $4.24 on Thursday, hitting $180.75. The company's stock had a trading volume of 25,317,026 shares, compared to its average volume of 27,198,012. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm has a market cap of $2.23 trillion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company's 50 day simple moving average is $162.86 and its 200-day simple moving average is $169.36.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the company earned $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's payout ratio is 10.61%.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP purchased a new position in Alphabet in the 3rd quarter worth approximately $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet in the 2nd quarter worth $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the 2nd quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. BMO Capital Markets reissued an "outperform" rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Guggenheim boosted their target price on Alphabet from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. KeyCorp upped their price target on Alphabet from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Citigroup raised their price objective on Alphabet from $190.00 to $212.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.