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

Alphabet Inc. (NASDAQ:GOOGL) Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Alphabet Price Performance

Alphabet stock opened at $154.40 on Wednesday. The firm has a market capitalization of $1.92 trillion, a PE ratio of 26.62, a P/E/G ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The firm’s 50-day simple moving average is $145.76 and its 200 day simple moving average is $140.19. 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:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the prior year, the firm earned $1.05 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently bought and sold shares of GOOGL. Bornite Capital Management LP purchased a new position in shares of Alphabet during the 1st quarter worth $16,688,000. Markel Corp increased its position in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank raised its holdings in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management grew its stake in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Truist Financial lowered their target price on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Roth Mkm lowered their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company cut their target price on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.64.

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.