Alphabet (NASDAQ:GOOG) CAO Sells $680,610.00 in Stock

Key Points

• Alphabet's Chief Accounting Officer, Amie Thuener O'toole, sold 2,778 shares of the company’s stock valued at $680,610, representing a 13.84% decrease in her holdings.
• Alphabet's latest earnings report revealed an EPS of $2.31, exceeding the consensus estimate by $0.19, with revenue of $96.43 billion for the quarter, up 13.8% year-over-year.
• The company announced a quarterly dividend of $0.21 per share, resulting in an annualized dividend of $0.84 and a yield of 0.3%, with a low payout ratio of 8.95%.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Alphabet Stock Performance

Alphabet stock traded down $0.34 during midday trading on Tuesday, reaching $251.42. 24,479,119 shares of the company's stock were exchanged, compared to its average volume of 23,142,790. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $253.23. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 1.69 and a beta of 1.01. The stock's 50-day simple moving average is $204.16 and its 200 day simple moving average is $179.48.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is 8.95%.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC lifted its position in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Norges Bank bought a new position in Alphabet in the 2nd quarter valued at about $4,298,572,000. Nuveen LLC bought a new position in Alphabet in the 1st quarter valued at about $2,622,943,000. GAMMA Investing LLC lifted its position in Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on GOOG shares. Scotiabank boosted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer restated an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $227.56.

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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