Alphabet Inc. (NASDAQ:GOOGL) Insider Sells $4,637,754.00 in Stock

Key Points

• John Kent Walker, an insider at Alphabet Inc., sold 23,820 shares of the company's stock for a total of $4,637,754, resulting in a 35.65% decrease in his holdings.
• Alphabet announced a quarterly dividend of $0.21 per share, to be paid on September 15th, representing an annualized yield of 0.4%.
• Analysts have recently updated their price targets for Alphabet, with a consensus price target now standing at $211.53, reflecting a generally positive outlook on the stock.

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alphabet Trading Up 0.2%

Shares of Alphabet stock traded up $0.43 during trading on Thursday, reaching $196.52. 26,014,319 shares of the company were exchanged, compared to its average volume of 36,916,484. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The business has a 50-day moving average price of $179.76 and a 200-day moving average price of $173.12. The firm has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - 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, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

Analysts Set New Price Targets

A number of analysts have issued reports on GOOGL shares. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. DA Davidson raised their target price on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. KeyCorp raised their price objective on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Truist Financial reiterated a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Finally, Loop Capital reiterated a "hold" rating and issued a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock worth $44,000 after buying an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.