Key Points
- John Hennessy, an Alphabet director, sold 600 shares on November 13 at an average price of $280.06 for total proceeds of $168,036, reducing his holding by 11.73% to 4,516 shares (≈$1.265M).
- Alphabet beat expectations for the quarter with EPS $2.87 vs. $2.29 forecast and revenue of $102.35 billion, and carries a market capitalization of about $3.44 trillion with a consensus price target near $304.10.
- Alphabet announced a quarterly dividend of $0.21 per share (annualized $0.84, yield 0.3%), with an ex-dividend date of December 8 and payment on December 15.
Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director John Hennessy sold 600 shares of the stock in a transaction on 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 sale, the director directly owned 4,516 shares of the company's stock, valued at $1,264,750.96. The trade was a 11.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $285.02 on Tuesday. The firm's fifty day simple moving average is $258.26 and its 200 day simple moving average is $210.16. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $293.95. The firm has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.86 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.28%.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Alphabet from $260.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, October 30th. Cantor Fitzgerald raised their price objective on shares of Alphabet from $265.00 to $310.00 and gave the stock a "neutral" rating in a report on Thursday, October 30th. Needham & Company LLC boosted their target price on shares of Alphabet from $260.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, October 30th. Susquehanna increased their price target on shares of Alphabet from $225.00 to $350.00 and gave the stock a "positive" rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group lifted their price target on Alphabet from $270.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $304.10.
Check Out Our Latest Analysis on Alphabet
Hedge Funds Weigh In On Alphabet
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mystic Asset Management Inc. lifted its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Alaethes Wealth LLC raised its position in shares of Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock worth $1,182,000 after purchasing an additional 84 shares during the period. Moment Partners LLC lifted its holdings in shares of Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider's stock valued at $1,039,000 after purchasing an additional 504 shares during the last quarter. Finally, Welch Group LLC boosted its position in shares of Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider's stock valued at $11,325,000 after purchasing an additional 2,467 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
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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