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

Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kavitark Ram Shriram also recently made the following trade(s):

• On Wednesday, October 30th, Kavitark Ram Shriram sold 10,500 shares of Alphabet stock. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00.

Alphabet Stock Up 2.2 %

NASDAQ GOOG traded up $3.95 during trading on Thursday, reaching $182.28. 16,712,027 shares of the company’s stock were exchanged, compared to its average volume of 19,685,559. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The stock has a market cap of $2.24 trillion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50 day moving average price of $164.24 and a two-hundred day moving average price of $170.89.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the company posted $1.55 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 7.97 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOG. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.56.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently made changes to their positions in the company. Colonial River Wealth Management LLC grew its position in Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares during the last quarter. Marks Group Wealth Management Inc increased its position in Alphabet by 5.4% in the 3rd quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock valued at $27,149,000 after acquiring an additional 8,304 shares during the period. Handelsbanken Fonder AB lifted its position in Alphabet by 4.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after acquiring an additional 115,716 shares during the period. Finally, TSA Wealth Managment LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at approximately $206,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

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.