Alphabet Inc (NASDAQ:GOOG) SVP David C. Drummond sold 5,690 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $1,052.50, for a total transaction of $5,988,725.00. Following the completion of the transaction, the senior vice president now directly owns 2,897 shares of the company’s stock, valued at $3,049,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Alphabet Inc (NASDAQ GOOG) traded up $14.16 during trading on Monday, reaching $1,051.94. 2,060,000 shares of the company’s stock were exchanged, compared to its average volume of 1,790,000. The company has a market capitalization of $734,000.00, a P/E ratio of 58.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc has a fifty-two week low of $803.37 and a fifty-two week high of $1,186.89.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. During the same quarter last year, the company earned $9.36 EPS. The business’s revenue was up 24.0% compared to the same quarter last year.
Alphabet declared that its board has initiated a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research firms recently weighed in on GOOG. TheStreet lowered shares of Alphabet from an “a” rating to a “c+” rating in a report on Thursday, February 1st. BidaskClub lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,054.53 price objective for the company in a research note on Monday. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Alphabet in a research note on Friday, February 2nd. Finally, Stifel Nicolaus reaffirmed a “neutral” rating on shares of Alphabet in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $1,061.93.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Alphabet by 3.0% during the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after acquiring an additional 589,654 shares in the last quarter. BlackRock Inc. boosted its position in Alphabet by 0.4% in the fourth quarter. BlackRock Inc. now owns 18,718,488 shares of the information services provider’s stock valued at $19,587,026,000 after buying an additional 71,862 shares during the last quarter. FMR LLC boosted its position in Alphabet by 0.4% in the second quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after buying an additional 62,507 shares during the last quarter. Capital World Investors boosted its position in Alphabet by 13.9% in the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after buying an additional 776,853 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Alphabet by 3.2% in the second quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock valued at $4,528,593,000 after buying an additional 155,151 shares during the last quarter. Hedge funds and other institutional investors own 34.46% of the company’s stock.
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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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