David C. Drummond Sells 1,496 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) SVP David C. Drummond sold 1,496 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the completion of the sale, the senior vice president now owns 52 shares in the company, valued at $48,867.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Alphabet Inc. (NASDAQ GOOG) opened at 932.45 on Friday. The company has a market cap of $646.08 billion, a PE ratio of 33.79 and a beta of 0.94. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25. The firm has a 50-day moving average price of $924.03 and a 200-day moving average price of $909.94.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.42 EPS. On average, analysts forecast that Alphabet Inc. will post $30.59 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Alphabet by 3.0% in the 2nd 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. raised its holdings in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after acquiring an additional 826,480 shares in the last quarter. FMR LLC raised its holdings in shares of Alphabet by 0.4% in the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after acquiring an additional 62,507 shares in the last quarter. State Street Corp raised its holdings in shares of Alphabet by 0.3% in the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock valued at $10,010,859,000 after acquiring an additional 36,864 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after acquiring an additional 776,853 shares in the last quarter. 34.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on GOOG shares. MKM Partners reissued a “buy” rating and set a $1,170.00 target price on shares of Alphabet in a research note on Wednesday, June 28th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research note on Monday, May 29th. Cowen and Company reissued an “outperform” rating and set a $1,075.00 target price on shares of Alphabet in a research note on Thursday, August 10th. Needham & Company LLC reissued a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a research note on Monday, July 17th. Finally, Robert W. Baird reissued an “outperform” rating on shares of Alphabet in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have assigned a buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,031.14.

Alphabet Company Profile

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.

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

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