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Insider Selling: Alphabet (NASDAQ:GOOG) Insider Sells 17,816 Shares of Stock

Alphabet logo with Computer and Technology background

Key Points

  • Alphabet Inc. insider John Kent Walker sold 17,816 shares of the company's stock at an average price of $247.42, totaling approximately $4.4 million, which decreased his ownership by 29.30%.
  • The company recently declared a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3% and a payout ratio of 8.95%.
  • Alphabet's stock has received positive analyst ratings, with researchers from Pivotal Research raising the price target to $300.00 and 5 analysts rating it as a strong buy.
  • Five stocks to consider instead of Alphabet.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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 shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00.

Alphabet Price Performance

Shares of GOOG stock traded up $1.99 on Wednesday, hitting $245.54. 23,950,730 shares of the stock traded hands, compared to its average volume of 25,216,380. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.64 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 firm has a 50 day simple moving average of $218.70 and a two-hundred day simple moving average of $185.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted 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 $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the company posted $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC lifted its stake in Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock worth $572,000 after acquiring an additional 1,899 shares during the last quarter. Affiance Financial LLC raised its holdings in Alphabet by 1.4% during the first quarter. Affiance Financial LLC now owns 14,478 shares of the information services provider's stock worth $2,262,000 after purchasing an additional 201 shares in the last quarter. Merit Financial Group LLC raised its holdings in Alphabet by 7.9% during the first quarter. Merit Financial Group LLC now owns 129,839 shares of the information services provider's stock worth $20,285,000 after purchasing an additional 9,539 shares in the last quarter. Finally, HBW Advisory Services LLC raised its holdings in Alphabet by 6.7% during the first quarter. HBW Advisory Services LLC now owns 17,331 shares of the information services provider's stock worth $2,708,000 after purchasing an additional 1,087 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Pivotal Research boosted their price objective on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Mizuho raised shares of Alphabet to a "strong-buy" rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $230.35.

View Our Latest Research Report on Alphabet

Alphabet Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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