Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy Sells 800 Shares

Alphabet Inc. (NASDAQ:GOOG – Get Rating) Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $125.00, for a total value of $100,000.00. Following the sale, the director now directly owns 5,940 shares in the company, valued at approximately $742,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $125.87 on Tuesday. The company has a market cap of $1.60 trillion, a P/E ratio of 28.03, a PEG ratio of 1.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. Alphabet Inc. has a one year low of $83.45 and a one year high of $127.05. The business’s 50-day simple moving average is $107.71 and its 200 day simple moving average is $99.08.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America increased their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Royal Bank of Canada set a $130.00 price objective on Alphabet in a research note on Friday, February 3rd. UBS Group raised their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Robert W. Baird raised their price target on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Finally, Piper Sandler decreased their price target on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.80.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Advisors Network Inc. increased its holdings in Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. increased its holdings in Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares during the last quarter. West Michigan Advisors LLC increased its holdings in Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F grew its position in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC grew its position in shares of Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after acquiring an additional 16 shares in the last quarter. 28.69% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.