Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram Sells 10,500 Shares

01 Nov 2024, 17:26 by Michael Walen · The Markets Daily

Alphabet Inc. (NASDAQ:GOOG – Get Free Report) Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Alphabet Stock Up 0.3 %

Shares of GOOG stock traded up $0.56 during mid-day trading on Friday, hitting $173.25. The stock had a trading volume of 10,012,838 shares, compared to its average volume of 19,660,402. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The firm’s 50-day moving average is $163.71 and its two-hundred day moving average is $170.32. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. Alphabet Inc. has a 12-month low of $128.11 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 7.83 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the period. Swedbank AB acquired a new position in Alphabet in the first quarter valued at approximately $1,378,708,000. Capital International Investors lifted its stake in shares of 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 purchasing an additional 7,470,042 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after acquiring an additional 2,500,621 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Alphabet by 51.8% during the first 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 in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup increased their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

View Our Latest Stock Analysis on GOOG

Alphabet Company Profile

(Get Free Report)