Alphabet (NASDAQ:GOOG) Director Sells $145,752.00 in Stock

Key Points

• Alphabet Director John Hennessy sold 600 shares for a total of $145,752.00, decreasing his ownership by 10.50% to 5,116 shares valued at approximately $1.24 million.
• The company recently announced a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3% and a low dividend payout ratio of 8.95%.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding estimates, with revenue soaring by 13.8% year-over-year to $96.43 billion.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) Director John Hennessy sold 600 shares of the firm's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares of the company's stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alphabet Stock Performance

NASDAQ:GOOG traded up $5.52 on Wednesday, reaching $251.71. 16,031,223 shares of the company's stock were exchanged, compared to its average volume of 20,016,218. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick 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 1.66 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The stock has a fifty day simple moving average of $230.06 and a 200-day simple moving average of $191.42.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $1.89 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOG. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Scotiabank raised 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. Jefferies Financial Group raised their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $241.00.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently bought and sold shares of GOOG. Vanguard Group Inc. grew its holdings in shares of Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider's stock valued at $73,927,821,000 after purchasing an additional 5,182,111 shares during the last quarter. State Street Corp boosted its position in Alphabet by 1.3% during the second quarter. State Street Corp now owns 188,914,125 shares of the information services provider's stock valued at $33,511,477,000 after buying an additional 2,428,266 shares during the period. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% during the second 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 buying an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 0.4% in the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider's stock worth $19,022,926,000 after buying an additional 441,177 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

About Alphabet

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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