Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) Director Sells 10,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company's stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Alphabet Stock Up 0.1 %

GOOGL stock traded up $0.18 during midday trading on Friday, hitting $171.29. The stock had a trading volume of 31,779,947 shares, compared to its average volume of 27,244,912. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. The business has a 50-day moving average of $162.32 and a two-hundred day moving average of $168.79. Alphabet Inc. has a 52-week low of $126.93 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.85 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet's payout ratio is currently 10.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc lifted 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 valued at $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC bought a new position in Alphabet in the first quarter valued at about $30,000. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC bought a new position in Alphabet in the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after acquiring an additional 109 shares during the period. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOGL. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a report on Wednesday. Bank of America lifted their price objective on Alphabet from $206.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Finally, Guggenheim lifted their price objective on Alphabet from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $205.51.

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.