Kavitark Ram Shriram Sells 10,500 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Kavitark Ram Shriram also recently made the following trade(s):

• On Wednesday, October 30th, Kavitark Ram Shriram sold 10,500 shares of Alphabet stock. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00.

Alphabet Stock Up 2.4 %

Alphabet stock traded up $4.24 during mid-day trading on Thursday, reaching $180.75. The stock had a trading volume of 25,317,026 shares, compared to its average volume of 27,198,012. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a 50-day moving average price of $162.86 and a two-hundred day moving average price of $169.36. The company has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. JMP Securities increased their target price on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently modified their holdings of the business. Veracity Capital LLC grew its stake in shares of Alphabet by 7.2% in the first quarter. Veracity Capital LLC now owns 19,902 shares of the information services provider’s stock worth $3,004,000 after acquiring an additional 1,345 shares during the period. Teamwork Financial Advisors LLC raised its stake in Alphabet by 11.0% during the 1st quarter. Teamwork Financial Advisors LLC now owns 98,044 shares of the information services provider’s stock valued at $14,798,000 after buying an additional 9,701 shares during the last quarter. GenTrust LLC bought a new position in shares of Alphabet during the 1st quarter valued at $755,000. Horizon Bancorp Inc. IN boosted its stake in shares of Alphabet by 4.1% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,193 shares of the information services provider’s stock worth $331,000 after buying an additional 87 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC grew its holdings in shares of Alphabet by 32.9% in the first quarter. FORVIS Wealth Advisors LLC now owns 99,625 shares of the information services provider’s stock worth $15,036,000 after acquiring an additional 24,672 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.