John L. Hennessy Sells 2,100 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alphabet Stock Performance

Shares of GOOG stock opened at $173.69 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $2.16 trillion, a P/E ratio of 26.64, a P/E/G ratio of 1.45 and a beta of 1.05. The firm’s 50 day moving average price is $149.12 and its 200-day moving average price is $142.77. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 6.79 EPS for the current year.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent research reports. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $165.67.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Veracity Capital LLC lifted its stake in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares in the last quarter. Independence Bank of Kentucky lifted its stake in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after purchasing an additional 1,230 shares in the last quarter. Washington Trust Bank lifted its stake in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares in the last quarter. CNB Bank lifted its stake in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Sloy Dahl & Holst LLC raised its stake in shares of Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after acquiring an additional 155 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

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