Insider Selling: Alphabet (NASDAQ:GOOG) CAO Sells $153,432.28 in Stock

Alphabet Inc. (NASDAQ:GOOGGet Free Report) CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alphabet Stock Performance

GOOG stock opened at $351.28 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company has a 50 day moving average price of $366.70 and a 200 day moving average price of $332.30. Alphabet Inc. has a fifty-two week low of $173.88 and a fifty-two week high of $404.47. The stock has a market capitalization of $4.26 trillion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Alphabet (NASDAQ:GOOGGet Free Report) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $2.81 EPS. Analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is 6.71%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Wells Fargo & Company reissued an “overweight” rating and set a $435.00 price target on shares of Alphabet in a research note on Tuesday, June 2nd. Needham & Company LLC set a $400.00 price objective on shares of Alphabet and gave the company a “buy” rating in a report on Friday, March 13th. Finally, Pivotal Research reaffirmed a “buy” rating and issued a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $376.78.

Check Out Our Latest Research Report on Alphabet

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOG. Basecamp Wealth Advisors LLC grew its position in Alphabet by 0.6% in the first quarter. Basecamp Wealth Advisors LLC now owns 20,238 shares of the information services provider’s stock valued at $5,805,000 after purchasing an additional 123 shares in the last quarter. PVG Asset Management Corp lifted its position in Alphabet by 180.3% during the 1st quarter. PVG Asset Management Corp now owns 7,498 shares of the information services provider’s stock worth $2,151,000 after buying an additional 4,823 shares in the last quarter. Steelhead Wealth Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $220,000. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Alphabet during the 1st quarter worth about $324,000. Finally, E Wealth Partners LLC grew its holdings in shares of Alphabet by 6.9% in the 1st quarter. E Wealth Partners LLC now owns 1,160 shares of the information services provider’s stock valued at $333,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

About Alphabet

(Get Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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