John L. Hennessy Sells 1,000 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Key Points

• John L. Hennessy, a director at Alphabet Inc., sold 1,000 shares at an average price of $200 each, amounting to a total of $200,000, and now owns 6,916 shares representing a 12.63% decrease in ownership.
• Alphabet reported $2.31 earnings per share in its last quarterly earnings, surpassing expectations of $2.15, and had revenue of $96.43 billion for the quarter.
• The company announced a quarterly dividend of $0.21 per share to be paid on September 15th, with a payout ratio of 8.95%.

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Alphabet Stock Down 0.2%

NASDAQ GOOGL traded down $0.42 during trading hours on Monday, hitting $201.00. 25,805,968 shares of the company traded hands, compared to its average volume of 36,859,512. 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 business's 50-day moving average is $180.89 and its 200-day moving average is $172.80. The stock has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GOOGL shares. Guggenheim increased their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a research report on Friday, June 27th. Loop Capital reiterated a "hold" rating and issued a $190.00 price objective (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Westpark Capital upped their price target on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. Empirical Finance LLC boosted its stake in shares of Alphabet by 1.2% in the second quarter. Empirical Finance LLC now owns 206,390 shares of the information services provider's stock valued at $36,372,000 after buying an additional 2,468 shares during the period. Seizert Capital Partners LLC raised its holdings in shares of Alphabet by 199.2% during the 2nd quarter. Seizert Capital Partners LLC now owns 295,480 shares of the information services provider's stock worth $52,072,000 after buying an additional 196,726 shares in the last quarter. Nicholas Wealth LLC. grew its position in Alphabet by 13.0% in the second quarter. Nicholas Wealth LLC. now owns 9,275 shares of the information services provider's stock valued at $1,635,000 after acquiring an additional 1,067 shares during the last quarter. Octahedron Capital Management L.P. raised its stake in Alphabet by 35.6% during the second quarter. Octahedron Capital Management L.P. now owns 101,700 shares of the information services provider's stock worth $17,923,000 after acquiring an additional 26,700 shares in the last quarter. Finally, TRUE Private Wealth Advisors lifted its holdings in shares of Alphabet by 24.4% in the second quarter. TRUE Private Wealth Advisors now owns 18,223 shares of the information services provider's stock worth $3,211,000 after acquiring an additional 3,569 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

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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