Key Points
- Alphabet Director John Hennessy sold 600 shares on Nov. 13 at an average price of $280.06 for a total of $168,036, reducing his stake by 11.73% to 4,516 shares valued at about $1.265M.
- Alphabet beat quarterly expectations, reporting $2.87 EPS vs. $2.29 expected and $102.35B in revenue (vs. $99.90B), with revenue up 15.9% year-over-year and a 32.23% net margin.
- Alphabet declared a quarterly dividend of $0.21 payable Dec. 15 to shareholders of record on Dec. 8, equal to a $0.84 annualized payout and roughly a 0.3% yield.
Alphabet Inc. (NASDAQ:GOOG - Get Free Report) Director John Hennessy sold 600 shares of the company's stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the transaction, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Alphabet Price Performance
Alphabet stock opened at $285.60 on Tuesday. The stock has a market cap of $3.45 trillion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $294.52. The firm has a 50-day moving average of $258.86 and a two-hundred day moving average of $211.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $2.12 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet's dividend payout ratio is currently 8.28%.
Institutional Trading of Alphabet
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider's stock valued at $73,927,821,000 after acquiring an additional 5,182,111 shares during the period. State Street Corp grew its stake in Alphabet by 1.3% during the 2nd quarter. State Street Corp now owns 188,914,125 shares of the information services provider's stock valued at $33,511,477,000 after purchasing an additional 2,428,266 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the period. Geode Capital Management LLC raised its stake in shares of Alphabet by 0.4% in the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider's stock worth $19,022,926,000 after purchasing an additional 441,177 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. DA Davidson set a $825.00 price target on Alphabet in a research note on Monday, October 27th. TD Cowen raised their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Mizuho set a $325.00 price target on shares of Alphabet in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $260.00 to $300.00 and gave the company an "overweight" rating in a research note on Monday, October 27th. Finally, HSBC reissued a "buy" rating and set a $335.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $324.81.
Read Our Latest Stock Report on Alphabet
About Alphabet
(
Get Free Report)
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.
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