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

Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 800 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $156.33 on Tuesday. The firm’s 50-day moving average price is $146.73 and its two-hundred day moving average price is $141.34. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.95, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the business earned $1.05 earnings per share. Alphabet’s revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current year.

Institutional Investors Weigh In On Alphabet

Large investors have recently made changes to their positions in the company. Totem Point Management LLC increased its stake in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after acquiring an additional 571 shares during the period. Somerville Kurt F increased its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the period. BCK Partners Inc. acquired a new position in shares of Alphabet during the first quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. increased its stake in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. increased its stake in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Raymond James raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $157.50.

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.