Key Points
- Sundar Pichai sold 32,500 shares on December 15 at an average price of $299.80 for a total of $9,743,500, reducing his stake by about 1.43% to 2,239,619 shares (≈$671.4M).
- This sale is part of a recurring pattern — Pichai executed five other identical 32,500-share sales between October 1 and December 3 at prices ranging from $243.41 to $319.50, indicating ongoing staged dispositions.
- Alphabet recently beat estimates with Q3 EPS of $2.87 and revenue of $102.35B, carries a market cap near $3.58T, and has a consensus analyst rating of Moderate Buy with an average target of $315.18; the company also paid a $0.21 quarterly dividend on December 15.
Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director John Hennessy sold 600 shares of the firm's stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $308.19, for a total value of $184,914.00. Following the completion of the sale, the director directly owned 3,916 shares in the company, valued at approximately $1,206,872.04. The trade was a 13.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Alphabet Price Performance
Shares of GOOGL traded up $5.47 during trading hours on Thursday, reaching $302.19. 7,385,511 shares of the company's stock traded hands, compared to its average volume of 36,571,195. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.65 trillion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The firm's 50 day simple moving average is $286.56 and its 200-day simple moving average is $232.35.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to analysts' expectations of $99.90 billion. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.28%.
Hedge Funds Weigh In On Alphabet
Large investors have recently bought and sold shares of the stock. Bridgeway Capital Management LLC boosted its stake in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Alaethes Wealth LLC lifted its holdings in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after purchasing an additional 84 shares during the last quarter. Moment Partners LLC boosted its position in shares of Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider's stock worth $1,039,000 after purchasing an additional 504 shares in the last quarter. Welch Group LLC grew its stake in Alphabet by 4.0% during the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider's stock worth $11,325,000 after buying an additional 2,467 shares during the last quarter. Finally, Truist Financial Corp increased its position in Alphabet by 2.3% during the 2nd quarter. Truist Financial Corp now owns 2,546,012 shares of the information services provider's stock valued at $448,684,000 after buying an additional 56,295 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on GOOGL. Wells Fargo & Company upped their target price on shares of Alphabet from $236.00 to $268.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 30th. 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. Tigress Financial increased their price objective on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Friday, September 5th. Roth Capital raised their price objective on Alphabet from $210.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, October 16th. Finally, Phillip Securities upgraded Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research report on Friday, November 7th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $315.18.
Check Out Our Latest Report on Alphabet
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.
Further Reading
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