John L. Hennessy Sells 1,026 Shares of Alphabet Inc (GOOG) Stock

Alphabet Inc (NASDAQ:GOOG) Director John L. Hennessy sold 1,026 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $1,092.43, for a total transaction of $1,120,833.18. Following the sale, the director now owns 54 shares of the company’s stock, valued at $58,991.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Alphabet Inc (NASDAQ:GOOG) traded down $56.10 during trading on Monday, hitting $1,055.80. 3,767,789 shares of the company traded hands, compared to its average volume of 1,430,000. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. Alphabet Inc has a one year low of $795.25 and a one year high of $1,186.89. The company has a market capitalization of $735,970.00, a PE ratio of 58.82 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. During the same period in the prior year, the firm earned $9.36 EPS. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year.

Alphabet announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

GOOG has been the subject of several research reports. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Friday, October 20th. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Piper Jaffray Companies restated an “overweight” rating and set a $1,150.00 price objective on shares of Alphabet in a research report on Thursday, October 19th. Finally, SunTrust Banks raised their price objective on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirty-five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $1,061.56.

Institutional investors have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. boosted its position in Alphabet by 108.3% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after acquiring an additional 52 shares during the last quarter. Burt Wealth Advisors boosted its position in Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after acquiring an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its position in Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 5 shares during the last quarter. Price Wealth Management Inc. bought a new stake in Alphabet during the fourth quarter valued at $125,000. Finally, Archford Capital Strategies LLC boosted its position in Alphabet by 400.0% during the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after acquiring an additional 832 shares during the last quarter. 34.64% of the stock is currently owned by institutional investors.

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About Alphabet

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.

Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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