Alphabet (NASDAQ:GOOG) Major Shareholder Sells $35,060,852.00 in Stock

Alphabet Inc. (NASDAQ:GOOGGet Free Report) major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $19.00, for a total value of $35,060,852.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Alphabet Stock Down 0.0%

NASDAQ:GOOG opened at $338.53 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $342.29. The company has a 50-day moving average of $320.91 and a 200 day moving average of $266.82. The firm has a market cap of $4.09 trillion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley grew its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC increased its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares in the last quarter. Fairman Group LLC raised its position in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares during the period. Finally, University of Illinois Foundation purchased a new position in Alphabet during the second quarter valued at $31,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. TD Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, January 13th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. KeyCorp restated an “overweight” rating and set a $360.00 price objective on shares of Alphabet in a research note on Monday, January 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $365.00 price objective on shares of Alphabet in a research note on Monday, January 5th. Finally, Raymond James Financial upgraded shares of Alphabet from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $315.00 to $400.00 in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $330.83.

Read Our Latest Stock Analysis on Alphabet

Key Headlines Impacting Alphabet

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Alphabet Company Profile

(Get Free Report)

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.

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