Alphabet Inc (GOOG) Director Sells $1,120,833.18 in Stock

Alphabet Inc (NASDAQ:GOOG) Director John L. Hennessy sold 1,026 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $1,092.43, for a total value of $1,120,833.18. Following the transaction, the director now owns 54 shares in the company, valued at $58,991.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Alphabet Inc (NASDAQ GOOG) traded up $17.60 during mid-day trading on Thursday, reaching $1,069.70. 1,555,500 shares of the company’s stock traded hands, compared to its average volume of 1,795,516. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The firm has a market capitalization of $751,920.00, a P/E ratio of 59.83 and a beta of 1.01. Alphabet Inc has a 1 year low of $803.37 and a 1 year high of $1,186.89.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. During the same quarter in the previous year, the firm posted $9.36 earnings per share. The firm’s quarterly revenue was up 24.0% on a year-over-year basis.

Alphabet announced that its board has authorized a share repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Several equities research analysts have recently weighed in on GOOG shares. Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,150.00 price objective on shares of Alphabet in a research note on Thursday, October 19th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 20th. Deutsche Bank restated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 25th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have given a buy rating to the company. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,061.93.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOG. LeJeune Puetz Investment Counsel LLC increased its stake in Alphabet by 0.4% in the second quarter. LeJeune Puetz Investment Counsel LLC now owns 2,674 shares of the information services provider’s stock valued at $2,430,000 after acquiring an additional 10 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in Alphabet by 1.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,124 shares of the information services provider’s stock valued at $2,825,000 after acquiring an additional 44 shares during the last quarter. IBM Retirement Fund increased its stake in Alphabet by 76.1% in the second quarter. IBM Retirement Fund now owns 7,403 shares of the information services provider’s stock valued at $7,517,000 after acquiring an additional 3,198 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in Alphabet by 87,001.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after acquiring an additional 1,991,465 shares during the last quarter. Finally, Schnieders Capital Management LLC increased its stake in Alphabet by 4.6% in the second quarter. Schnieders Capital Management LLC now owns 3,822 shares of the information services provider’s stock valued at $3,473,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 34.46% of the company’s stock.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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