Kavitark Ram Shriram Sells 18,566 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kavitark Ram Shriram also recently made the following trade(s):

• On Friday, July 18th, Kavitark Ram Shriram sold 15,000 shares of Alphabet stock. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00.
• On Thursday, May 22nd, Kavitark Ram Shriram sold 9,000 shares of Alphabet stock. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00.
• On Thursday, May 22nd, Kavitark Ram Shriram sold 10,500 shares of Alphabet stock. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00.

Alphabet Trading Up 0.9%

Shares of NASDAQ GOOG traded up $1.69 during midday trading on Thursday, hitting $193.20. 45,163,229 shares of the company traded hands, compared to its average volume of 26,053,214. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50-day moving average price of $176.33 and a 200 day moving average price of $174.69. The firm has a market cap of $2.34 trillion, a P/E ratio of 20.58, a P/E/G ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 35.22%. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in 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 worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. FMR LLC boosted its stake in Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after acquiring an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Westpark Capital restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Raymond James Financial restated an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday. 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. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

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.