Alphabet Inc (NASDAQ:GOOG) SVP David C. Drummond sold 5,690 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $1,164.43, for a total transaction of $6,625,606.70. Following the transaction, the senior vice president now directly owns 2,897 shares in the company, valued at approximately $3,373,353.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Alphabet Inc (NASDAQ GOOG) traded up $4.46 during mid-day trading on Monday, hitting $1,164.50. 2,080,804 shares of the stock were exchanged, compared to its average volume of 1,775,150. Alphabet Inc has a fifty-two week low of $803.37 and a fifty-two week high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The stock has a market cap of $813,100.00, a P/E ratio of 36.28 and a beta of 1.05.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. During the same period in the prior year, the business posted $9.36 EPS. The business’s revenue was up 24.0% on a year-over-year basis.
A number of equities analysts have weighed in on the stock. Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,130.90 price target on the stock. in a research note on Tuesday, March 6th. BidaskClub raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 28th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, February 27th. TheStreet downgraded shares of Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. Finally, Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target on the stock. in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $1,072.37.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOG. Stuart Chaussee & Associates Inc. grew its holdings in Alphabet by 108.3% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after acquiring an additional 52 shares in the last quarter. Burt Wealth Advisors grew its holdings in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after acquiring an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares in the last quarter. Price Wealth Management Inc. acquired a new position in Alphabet during the 4th quarter worth $125,000. Finally, Archford Capital Strategies LLC grew its holdings in Alphabet by 400.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after acquiring an additional 832 shares in the last quarter. 34.86% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/03/12/david-c-drummond-sells-5690-shares-of-alphabet-inc-goog-stock.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.