Insider Selling: Alphabet Inc. (NASDAQ:GOOG) Director Sells 600 Shares of Stock

Key Points

• Director Selling: Alphabet Inc. Director John L. Hennessy sold 600 shares of stock for approximately $122,274, representing an 8.68% decrease in his ownership.
• Quarterly Performance: Alphabet reported a quarterly EPS of $2.31, exceeding expectations, with revenue of $96.43 billion, up 13.8% year-over-year.
• Dividend Announcement: The company announced a quarterly dividend of $0.21 per share, payable on September 15th, with a yield of 0.4% for the year.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Alphabet Trading Up 0.4%

Alphabet stock traded up $0.79 during trading on Thursday, hitting $203.82. The company's stock had a trading volume of 17,610,143 shares, compared to its average volume of 24,231,382. The stock has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.34 and a beta of 1.02. 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 stock's fifty day moving average is $183.93 and its 200 day moving average is $174.75. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

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

Alphabet Dividend Announcement

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

Institutional Investors Weigh In On Alphabet

A number of large investors have recently modified their holdings of the stock. Connecticut Wealth Management LLC acquired a new stake in shares of Alphabet in the second quarter valued at about $5,629,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Alphabet in the second quarter valued at about $4,843,000. Challenger Wealth Management grew its stake in shares of Alphabet by 4.0% in the second quarter. Challenger Wealth Management now owns 1,335 shares of the information services provider's stock valued at $237,000 after buying an additional 51 shares in the last quarter. Gould Capital LLC boosted its holdings in Alphabet by 3.2% in the second quarter. Gould Capital LLC now owns 15,956 shares of the information services provider's stock valued at $2,830,000 after purchasing an additional 497 shares during the last quarter. Finally, Florida Financial Advisors LLC boosted its holdings in Alphabet by 20.9% in the second quarter. Florida Financial Advisors LLC now owns 4,044 shares of the information services provider's stock valued at $720,000 after purchasing an additional 698 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GOOG shares. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Raymond James Financial restated an "outperform" rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $215.19.

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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