John Hennessy Sells 1,050 Shares of Alphabet (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) Director John Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. The trade was a 41.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Alphabet Stock Performance

NASDAQ GOOG opened at $367.46 on Friday. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The firm has a market capitalization of $4.45 trillion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 1.22. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm’s 50 day simple moving average is $364.31 and its 200 day simple moving average is $331.07.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter in the previous year, the firm posted $2.81 earnings per share. The company’s revenue was up 21.8% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.

Institutional Investors Weigh In On Alphabet

A number of hedge funds have recently modified their holdings of GOOG. Imprint Wealth LLC bought a new position in shares of Alphabet during the 3rd quarter worth $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. Lifetime Wealth Management P.C. bought a new position in Alphabet during the fourth quarter worth about $38,000. Bard Associates Inc. bought a new position in Alphabet during the fourth quarter worth about $41,000. Finally, Towne Trust Company N.A increased its stake in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Scotiabank reiterated an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Truist Financial set a $430.00 price target on Alphabet in a research note on Monday, June 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Finally, Pivotal Research reissued a “buy” rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $376.78.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.