Insider Selling: Alphabet Inc. (GOOG) SVP Sells 5,690 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $1,106.84, for a total transaction of $6,297,919.60. Following the transaction, the senior vice president now owns 39,911 shares of the company’s stock, valued at approximately $44,175,091.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Alphabet opened at $1,078.59 on Friday, according to MarketBeat Ratings. The stock has a market capitalization of $750.01 billion, a P/E ratio of 33.65 and a beta of 1.09. Alphabet Inc. has a 52 week low of $1,076.38 and a 52 week high of $1,088.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.85 and a current ratio of 4.87.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, beating the Zacks’ consensus estimate of $9.28 by $0.65. The firm had revenue of $31.15 billion for the quarter, compared to analysts’ expectations of $30.28 billion. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $7.73 EPS.

Alphabet announced that its Board of Directors has approved a share buyback plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

A number of equities analysts have commented on GOOG shares. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price objective for the company in a research report on Monday, March 19th. Morningstar restated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Pivotal Research cut their price objective on shares of Alphabet from $1,110.00 to $1,040.00 and set a “hold” rating for the company in a research report on Monday, April 2nd. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research report on Friday, April 20th. Finally, BidaskClub downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 21st. Five research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,130.86.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Argent Trust Co lifted its holdings in Alphabet by 3.7% in the 3rd quarter. Argent Trust Co now owns 2,110 shares of the information services provider’s stock valued at $2,024,000 after purchasing an additional 75 shares in the last quarter. Commonwealth Equity Services Inc lifted its holdings in Alphabet by 4.4% in the 3rd quarter. Commonwealth Equity Services Inc now owns 47,546 shares of the information services provider’s stock valued at $45,602,000 after purchasing an additional 1,999 shares in the last quarter. Ninepoint Partners LP purchased a new position in Alphabet in the 3rd quarter valued at about $1,881,000. InterOcean Capital LLC lifted its holdings in Alphabet by 8.2% in the 3rd quarter. InterOcean Capital LLC now owns 21,216 shares of the information services provider’s stock valued at $20,348,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Pettee Investors Inc. lifted its holdings in Alphabet by 35.0% in the 3rd quarter. Pettee Investors Inc. now owns 1,080 shares of the information services provider’s stock valued at $1,036,000 after purchasing an additional 280 shares in the last quarter. 34.78% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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