Kavitark Ram Shriram Sells 29,066 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kavitark Ram Shriram also recently made the following trade(s):

• On Tuesday, December 10th, Kavitark Ram Shriram sold 37,134 shares of Alphabet stock. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68.

Alphabet Stock Up 0.5 %

GOOGL traded up $0.94 during trading hours on Wednesday, reaching $184.71. 10,818,414 shares of the stock traded hands, compared to its average volume of 27,181,850. The firm’s fifty day simple moving average is $193.02 and its two-hundred day simple moving average is $175.42. The company has a market cap of $2.25 trillion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.35 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Compass Planning Associates Inc acquired a new position in Alphabet during the 4th quarter worth $30,000. LMR Partners LLP bought a new position in shares of Alphabet in the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth about $39,000. Finally, PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wedbush upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Truist Financial upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.62.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.