Insider Selling: Alphabet (NASDAQ:GOOGL) Major Shareholder Sells $1,382,371.77 in Stock

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) major shareholder 2019 Gp L.L.C. Gv sold 60,077 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $23.01, for a total value of $1,382,371.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

2019 Gp L.L.C. Gv also recently made the following trade(s):

  • On Friday, May 15th, 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25.

Alphabet Stock Up 0.3%

Alphabet stock opened at $388.91 on Thursday. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company has a market capitalization of $4.71 trillion, a P/E ratio of 29.67, a PEG ratio of 1.66 and a beta of 1.26. The stock has a 50-day simple moving average of $334.65 and a 200-day simple moving average of $320.07.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Equities research analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is currently 6.41%.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cadia Private Client LLC lifted its stake in Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock valued at $744,000 after buying an additional 28 shares in the last quarter. Hobbs Group Advisors LLC lifted its stake in shares of Alphabet by 4.1% during the 1st quarter. Hobbs Group Advisors LLC now owns 11,701 shares of the information services provider’s stock worth $3,365,000 after purchasing an additional 466 shares during the period. January Capital Advisors LLC purchased a new position in shares of Alphabet during the 1st quarter worth $550,000. Union Heritage Capital LLC lifted its stake in shares of Alphabet by 184.3% during the 1st quarter. Union Heritage Capital LLC now owns 22,520 shares of the information services provider’s stock worth $6,476,000 after purchasing an additional 14,600 shares during the period. Finally, Leigh Baldwin & CO. LLC lifted its stake in shares of Alphabet by 2.1% during the 1st quarter. Leigh Baldwin & CO. LLC now owns 4,887 shares of the information services provider’s stock worth $1,405,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $450.00 price objective on shares of Alphabet in a research note on Wednesday. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Evercore upped their price objective on Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. CICC Research upped their price objective on Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Rosenblatt Securities boosted their target price on Alphabet from $357.00 to $393.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $412.65.

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About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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