John L. Hennessy Sells 200 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the transaction, the director now directly owns 7,184 shares of the company’s stock, valued at $954,897.28. The sale was disclosed in a filing with the SEC, which is available at this link.

Alphabet Trading Up 0.7 %

Shares of NASDAQ:GOOGL opened at $134.62 on Thursday. Alphabet Inc. has a 12-month low of $84.86 and a 12-month high of $141.22. The stock has a market cap of $1.68 trillion, a PE ratio of 25.84, a P/E/G ratio of 1.48 and a beta of 1.05. The business has a 50 day moving average of $133.43 and a 200-day moving average of $127.08. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 5.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOGL. Piper Sandler increased their target price on Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, October 25th. Wedbush reissued an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. JPMorgan Chase & Co. increased their target price on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Barclays dropped their target price on Alphabet from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Finally, Wells Fargo & Company raised their price target on Alphabet from $121.00 to $126.00 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.91.

Institutional Investors Weigh In On Alphabet

Several institutional investors have recently made changes to their positions in the stock. Modera Wealth Management LLC lifted its stake in Alphabet by 11.4% during the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after purchasing an additional 4,420 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after buying an additional 21,907 shares in the last quarter. Cadent Capital Advisors LLC increased its holdings in shares of Alphabet by 3.4% during the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock worth $498,000 after buying an additional 136 shares in the last quarter. Hallmark Capital Management Inc. increased its holdings in shares of Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after buying an additional 13,605 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its holdings in shares of Alphabet by 17.1% during the first quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock worth $4,842,000 after buying an additional 6,825 shares in the last quarter. 35.08% of the stock is currently owned by institutional investors.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.