Kavitark Ram Shriram Sells 29,066 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, December 10th, Kavitark Ram Shriram sold 37,134 shares of Alphabet stock. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68.

Alphabet Stock Performance

GOOG stock opened at $187.13 on Thursday. The company has a market capitalization of $2.28 trillion, a P/E ratio of 23.25, a PEG ratio of 1.34 and a beta of 1.00. The company has a 50-day simple moving average of $194.35 and a 200 day simple moving average of $177.01. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Citigroup boosted their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Barclays boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently bought and sold shares of the business. ARQ Wealth Advisors LLC raised its position in Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after acquiring an additional 1,400 shares in the last quarter. Blue Sky Capital Consultants Group Inc. bought a new stake in Alphabet in the fourth quarter worth about $666,000. Richmond Investment Services LLC bought a new stake in Alphabet in the fourth quarter worth about $595,000. Cache Advisors LLC acquired a new stake in Alphabet during the 4th quarter worth about $15,929,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Alphabet during the 4th quarter worth about $134,006,000. 27.26% of the stock is currently owned by institutional investors.

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.