Alphabet Inc. (NASDAQ:GOOGL) Director Sells $5,374,012.74 in Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, December 10th, Kavitark Ram Shriram sold 37,134 shares of Alphabet stock. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68.

Alphabet Stock Down 2.7 %

Shares of NASDAQ GOOGL opened at $179.66 on Friday. The firm’s 50 day moving average price is $192.46 and its 200 day moving average price is $175.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.19 trillion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 1.35 and a beta of 0.99. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Truist Financial boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Ten 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently modified their holdings of the stock. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the 4th quarter valued at $30,000. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $39,000. Finally, PayPay Securities Corp raised its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

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.