Key Points
- Director John Hennessy sold 600 shares at an average price of $306.73 on Feb. 13 for $184,038, trimming his stake by 2.83% to 20,624 shares (about $6.33M remaining).
- Alphabet beat quarterly expectations with $2.82 EPS vs. $2.57 consensus and $113.83B revenue, supported by strong Google Cloud momentum (reported ~48% Y/Y cloud revenue growth) and recent analyst price-target upgrades.
- Alphabet declared a quarterly dividend of $0.21 per share (annualized $0.84), with an ex-dividend date of March 9 and payment on March 16, implying a ~0.3% yield and a 7.77% payout ratio.
Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director John Hennessy sold 600 shares of the firm's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $306.73, for a total value of $184,038.00. Following the completion of the transaction, the director owned 20,624 shares in the company, valued at $6,325,999.52. The trade was a 2.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Alphabet Price Performance
Alphabet stock opened at $302.02 on Wednesday. The company has a fifty day simple moving average of $320.73 and a 200-day simple moving average of $277.10. The firm has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.79 and a beta of 1.09. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $349.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.25. The firm had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet's payout ratio is currently 7.77%.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
Institutional Trading of Alphabet
Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its position in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC grew its position in Alphabet by 9.6% in the 2nd quarter. Hutchens & Kramer Investment Management Group LLC now owns 4,900 shares of the information services provider's stock valued at $862,000 after acquiring an additional 431 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in Alphabet by 110.5% during the second quarter. Horizon Bancorp Inc. IN now owns 4,994 shares of the information services provider's stock worth $880,000 after purchasing an additional 2,621 shares during the period. Finally, Stonebridge Financial Group LLC lifted its position in shares of Alphabet by 5.5% during the second quarter. Stonebridge Financial Group LLC now owns 39,601 shares of the information services provider's stock worth $6,979,000 after purchasing an additional 2,060 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Analysts Set New Price Targets
GOOGL has been the topic of a number of analyst reports. Sanford C. Bernstein lifted their price objective on Alphabet from $305.00 to $335.00 and gave the stock a "market perform" rating in a research report on Monday, February 2nd. Daiwa Securities Group raised their target price on Alphabet from $333.00 to $380.00 and gave the stock a "buy" rating in a research note on Tuesday, February 10th. DZ Bank reissued a "buy" rating on shares of Alphabet in a research report on Monday. Barclays restated an "overweight" rating and set a $360.00 price objective (up from $315.00) on shares of Alphabet in a research report on Thursday, February 5th. Finally, Loop Capital upgraded shares of Alphabet from a "hold" rating to a "buy" rating and boosted their target price for the company from $260.00 to $320.00 in a report on Tuesday, November 18th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $363.10.
Check Out Our Latest Stock Analysis on GOOGL
Alphabet Company Profile
(
Get Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
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