Insider Selling: Alphabet Inc. (GOOG) SVP Sells $1,405,880.96 in Stock
Alphabet Inc. (NASDAQ:GOOG) SVP David C. Drummond sold 1,496 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $939.76, for a total value of $1,405,880.96. Following the sale, the senior vice president now directly owns 52 shares of the company’s stock, valued at $48,867.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 925.00 on Friday. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The stock’s 50 day moving average price is $925.43 and its 200-day moving average price is $906.88. The firm has a market capitalization of $640.91 billion, a price-to-earnings ratio of 33.52 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the company earned $8.42 EPS. Equities analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. Doyle Wealth Management increased its position in shares of Alphabet by 6.7% during the 2nd quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock valued at $2,891,000 after purchasing an additional 200 shares during the last quarter. Adviser Investments LLC bought a new position in Alphabet during the 1st quarter worth approximately $1,276,000. Farmers & Merchants Investments Inc. grew its position in Alphabet by 0.3% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock worth $4,533,000 after acquiring an additional 18 shares during the last quarter. Rothschild Investment Corp IL grew its position in Alphabet by 1.7% during the 2nd quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock worth $9,823,000 after acquiring an additional 184 shares during the last quarter. Finally, Carret Asset Management LLC grew its position in Alphabet by 1.5% during the 1st quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock worth $8,281,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 34.55% of the company’s stock.
A number of analysts recently issued reports on GOOG shares. J P Morgan Chase & Co reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, June 28th. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 target price for the company. in a research note on Wednesday, August 30th. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 target price for the company. in a research note on Thursday, June 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,031.14.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.