John L. Hennessy Sells 1,500 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

by · The Markets Daily

Alphabet Inc. (NASDAQ:GOOG – Get Free Report) Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now directly owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Alphabet Stock Performance

Shares of GOOG opened at $166.74 on Thursday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.06 trillion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company’s 50 day simple moving average is $163.17 and its 200-day simple moving average is $169.55. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Swedbank AB purchased a new stake in Alphabet in the 1st quarter valued at about $1,378,708,000. Capital International Investors grew its holdings in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 51.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares during the period. Finally, Vima LLC grew its holdings in shares of Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Pivotal Research started coverage on shares of Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. UBS Group decreased their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Oppenheimer reduced their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Check Out Our Latest Stock Analysis on GOOG

About Alphabet

(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.

Further Reading