Alphabet Inc. (NASDAQ:GOOG) SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction on Friday, May 12th. The shares were sold at an average price of $945.65, for a total value of $1,891,300.00. Following the sale, the senior vice president now directly owns 3,800 shares of the company’s stock, valued at $3,593,470. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Alphabet Inc. (NASDAQ GOOG) traded down 0.27% during trading on Friday, hitting $939.78. The company’s stock had a trading volume of 3,094,711 shares. Alphabet Inc. has a one year low of $663.28 and a one year high of $988.25. The company has a 50-day moving average price of $946.18 and a 200-day moving average price of $848.30. The stock has a market cap of $650.09 billion, a PE ratio of 31.76 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.38 by $0.35. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $24.18 billion. During the same period last year, the firm earned $7.50 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post $33.91 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Carmignac Gestion increased its stake in Alphabet by 0.9% in the third quarter. Carmignac Gestion now owns 457,186 shares of the information services provider’s stock worth $355,366,000 after buying an additional 4,300 shares during the last quarter. Shepherd Financial Partners LLC bought a new stake in Alphabet during the fourth quarter worth about $3,291,000. Lyell Wealth Management LP bought a new stake in Alphabet during the fourth quarter worth about $2,134,000. Banque Pictet & Cie SA increased its stake in Alphabet by 8.6% in the third quarter. Banque Pictet & Cie SA now owns 98,705 shares of the information services provider’s stock worth $76,722,000 after buying an additional 7,812 shares during the last quarter. Finally, State Street Corp increased its stake in Alphabet by 2.5% in the fourth quarter. State Street Corp now owns 12,030,811 shares of the information services provider’s stock worth $9,285,625,000 after buying an additional 290,691 shares during the last quarter. Institutional investors own 35.09% of the company’s stock.
GOOG has been the subject of several recent research reports. Canaccord Genuity lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target for the company. in a research report on Thursday. They noted that the move was a valuation call. Pivotal Research reissued a “hold” rating and issued a $950.00 price target on shares of Alphabet in a research report on Monday, March 27th. Credit Suisse Group boosted their price target on Alphabet from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $891.70 price target for the company in a research report on Monday, March 20th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Alphabet in a research report on Monday, March 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have given a buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $986.78.
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.
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