Key Points
- Sundar Pichai sold 32,500 Alphabet (GOOG) shares on Dec. 15 at an average price of $299.80 for $9.7435M, leaving him with 2,239,619 shares — a 1.43% decline in his holdings.
- He has repeatedly sold the same 32,500-share block multiple times between Oct. 1 and Dec. 3 (prices ranged roughly $243–$319), signaling a steady pattern of insider selling in recent months.
- Alphabet shares were down about 3.1%; the company reported an earnings beat for the October quarter (EPS $2.87 vs. $2.29) with $102.35B in revenue, announced a $0.21 quarterly dividend, and carries a consensus analyst "Buy" rating with a $313.04 target.
Alphabet Inc. (NASDAQ:GOOG - Get Free Report) Director John Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $308.19, for a total transaction of $184,914.00. Following the sale, the director owned 3,916 shares in the company, valued at $1,206,872.04. This represents a 13.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Alphabet Stock Up 1.9%
GOOG traded up $5.56 during trading hours on Thursday, reaching $303.62. 4,496,692 shares of the stock traded hands, compared to its average volume of 23,756,750. The firm's fifty day simple moving average is $287.17 and its two-hundred day simple moving average is $233.11. The company has a market cap of $3.66 trillion, a price-to-earnings ratio of 29.89, a PEG ratio of 1.78 and a beta of 1.07. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $328.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data 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 firm 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 35.00%. The firm's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were paid a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is 8.28%.
Analyst Ratings Changes
A number of brokerages have weighed in on GOOG. Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Cowen restated a "buy" rating on shares of Alphabet in a research note on Friday, December 12th. Guggenheim reiterated a "buy" rating and set a $375.00 price objective on shares of Alphabet in a research note on Monday, December 1st. Truist Financial set a $350.00 target price on shares of Alphabet in a research report on Friday, December 5th. Finally, Mizuho set a $325.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $313.04.
Read Our Latest Stock Report on Alphabet
Institutional Trading of Alphabet
A number of institutional investors and hedge funds have recently modified their holdings of the business. IFS Advisors LLC lifted its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley raised its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC lifted its holdings in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC lifted its holdings in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, University of Illinois Foundation acquired a new position in Alphabet during the 2nd quarter valued at approximately $31,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Company Profile
(
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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