Alphabet Inc. (NASDAQ:GOOG) SVP Sells $600,175.38 in Stock

Alphabet Inc. (NASDAQ:GOOG) SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Alphabet Price Performance

Shares of Alphabet stock opened at $187.39 on Friday. The firm has a market cap of $2.32 trillion, a PE ratio of 28.74, a P/E/G ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $187.62. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $175.99 and a 200 day moving average price of $156.79.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the company earned $1.17 earnings per share. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Partnership Wealth Management LLC acquired a new stake in Alphabet in the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet in the 4th quarter valued at $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in Alphabet during the 4th quarter worth $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

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.