Alphabet (NASDAQ:GOOG) Major Shareholder Sells $1,382,371.77 in Stock

Alphabet Inc. (NASDAQ:GOOG) major shareholder 2019 Gp L.L.C. Gv sold 60,077 shares of Alphabet 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 Trading Down 0.1%

NASDAQ GOOG traded down $0.21 during trading on Monday, hitting $393.11. The stock had a trading volume of 18,511,620 shares, compared to its average volume of 20,695,926. The company has a market capitalization of $4.76 trillion, a PE ratio of 29.99, a PEG ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $327.44 and a 200 day moving average price of $317.31. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.81 EPS. As a group, equities research analysts forecast 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. Stockholders of record on Monday, June 8th will be given a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.41%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway significantly increased its Alphabet stake, a high-profile vote of confidence that has helped support sentiment around GOOG. Berkshire Hathaway doubles down on GOOG stock while dumping AMZN. You probably shouldn’t
• Positive Sentiment: Bank of America expects Google I/O to showcase major AI advancements across Alphabet’s core products, which could further strengthen the company’s competitive position in AI. Google I/O preview: Bank of America expects major AI push across Search, Chrome, and Android
• Positive Sentiment: Alphabet’s latest quarterly results were strong, with revenue and earnings beating expectations and cloud growth remaining a key driver of the bull case. Alphabet: The $462B Backlog Crushed The Bear Case, But At 30x P/E I’m Trimming To Buy
• Positive Sentiment: Multiple investors and analysts remain constructive on Alphabet despite the stock’s big run, citing AI demand, cloud momentum, and potential upside from new product announcements. Some Very Smart Money Can’t Agree On What to Do With Alphabet’s Soaring Stock
• Neutral Sentiment: Some hedge funds and notable investors trimmed Alphabet positions in recent filings, showing that not all large holders agree on how much upside remains after the rally.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. Oppenheimer boosted their price objective on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group reissued a “neutral” rating and set a $348.00 price objective (up from $345.00) on shares of Alphabet in a research report on Thursday, February 12th. Truist Financial set a $385.00 price objective on Alphabet in a research report on Wednesday, April 22nd. Finally, Wedbush reissued an “outperform” rating and set a $370.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $363.40.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Providence Wealth Advisors LLC boosted its holdings in Alphabet by 0.3% in the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock valued at $3,094,000 after purchasing an additional 29 shares in the last quarter. One Charles Private Wealth Services LLC boosted its holdings in Alphabet by 0.6% in the first quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider’s stock valued at $1,390,000 after purchasing an additional 29 shares in the last quarter. Ring Mountain Capital LLC boosted its holdings in Alphabet by 0.9% in the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after purchasing an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. boosted its holdings in Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after purchasing an additional 30 shares in the last quarter. Finally, Financial Enhancement Group LLC boosted its holdings in Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 30 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile

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.