Alphabet Inc. (GOOG) Director Sells $160,000.00 in Stock
Alphabet Inc. (NASDAQ:GOOG) Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $800.00, for a total transaction of $160,000.00. Following the completion of the sale, the director now owns 104 shares in the company, valued at approximately $83,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 1.96% during mid-day trading on Tuesday, hitting $795.26. The stock had a trading volume of 2,056,903 shares. Alphabet Inc. has a 12 month low of $641.73 and a 12 month high of $801.61. The firm has a 50 day moving average price of $775.62 and a 200-day moving average price of $742.38. The stock has a market cap of $546.56 billion, a P/E ratio of 30.81 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The firm had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same period in the previous year, the company posted $6.99 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post $34.14 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in GOOG. Mesirow Financial Investment Management Equity Management bought a new stake in Alphabet during the second quarter worth about $121,000. Whitnell & Co. raised its stake in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock worth $129,000 after buying an additional 32 shares during the last quarter. D. Scott Neal Inc. raised its stake in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares during the last quarter. Pathstone Family Office LLC raised its stake in Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock worth $154,000 after buying an additional 15 shares during the last quarter. Finally, Cacti Asset Management LLC bought a new stake in Alphabet during the second quarter worth about $159,000. Institutional investors own 34.39% of the company’s stock.
GOOG has been the subject of a number of research analyst reports. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $1,070.00 price target (up from $940.00) on shares of Alphabet in a report on Monday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $1,050.00 price target on shares of Alphabet in a report on Wednesday, October 12th. Robert W. Baird reaffirmed an “outperform” rating and issued a $900.00 price target on shares of Alphabet in a report on Wednesday, October 5th. SunTrust Banks Inc. reaffirmed a “buy” rating and issued a $900.00 price target on shares of Alphabet in a report on Wednesday, October 5th. Finally, Needham & Company LLC set a $900.00 price target on Alphabet and gave the company a “buy” rating in a report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company. Alphabet has an average rating of “Buy” and a consensus target price of $929.51.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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