Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy Sells 1,000 Shares

Key Points

• Alphabet Inc. Director John L. Hennessy sold 1,000 shares at an average price of $200.00, decreasing his position by 12.63% to a total of 6,916 shares.
• The company reported a quarterly revenue of $96.43 billion, exceeding analysts' expectations of $93.67 billion, and an EPS of $2.31.
• Alphabet has announced a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th, representing a yield of 0.4%.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares of the company's stock, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Alphabet Price Performance

Shares of GOOG stock traded down $0.46 during trading hours on Monday, hitting $201.63. The company's stock had a trading volume of 16,675,980 shares, compared to its average volume of 24,116,525. The business has a fifty day moving average of $181.90 and a 200-day moving average of $174.35. The stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.34 and a beta of 1.02. 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 $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GOOG. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $215.19.

Institutional Trading of Alphabet

Hedge funds have recently bought and sold shares of the company. Principia Wealth Advisory LLC boosted its position in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter worth approximately $26,000. LSV Asset Management acquired a new position in shares of Alphabet in the 4th quarter valued at $27,000. IFS Advisors LLC grew its stake in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after buying an additional 120 shares during the period. Finally, Robbins Farley grew its stake in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Company Profile

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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