Alphabet (NASDAQ:GOOGL) Insider John Kent Walker Sells 17,816 Shares

Key Points

• Alphabet insider John Kent Walker sold 17,816 shares at an average price of $247.42, totaling approximately $4.4 million, resulting in a 29.3% reduction in his holdings.
• Alphabet's stock recently traded up 0.7%, reaching $244.90, with a market cap of $2.96 trillion and a P/E ratio of 26.08.
• The company declared a quarterly dividend of $0.21 per share, reflecting an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) insider John Kent Walker sold 17,816 shares of the company's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

John Kent Walker also recently made the following trade(s):

• On Monday, August 4th, John Kent Walker sold 23,820 shares of Alphabet stock. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00.

Alphabet Trading Up 0.7%

Shares of GOOGL traded up $1.80 during trading hours on Wednesday, hitting $244.90. The stock had a trading volume of 31,628,216 shares, compared to its average volume of 39,097,132. 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 $2.96 trillion, a P/E ratio of 26.08, a P/E/G ratio of 1.64 and a beta of 1.00. The company's fifty day simple moving average is $218.05 and its 200 day simple moving average is $184.24. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Institutional Trading of Alphabet

Institutional investors have recently modified their holdings of the business. Mystic Asset Management Inc. lifted its holdings in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co grew its stake in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after acquiring an additional 80 shares during the period. Cypress Capital LLC boosted its holdings in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after buying an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after purchasing an additional 84 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on GOOGL. BNP Paribas Exane reissued a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Needham & Company LLC raised their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Citizens Jmp lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Finally, Sanford C. Bernstein lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.10.

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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