INSIDER SELLING: ALPHABET INC. (NASDAQ:GOOG) CAO SELLS 42 SHARES OF STOCK

Posted by MarketBeat News on Jun 3rd, 2022

Alphabet Inc. (NASDAQ:GOOG – Get Rating) CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $2,298.63, for a total transaction of $96,542.46. Following the completion of the transaction, the chief accounting officer now owns 1,181 shares of the company’s stock, valued at $2,714,682.03. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Amie Thuener O’toole also recently made the following trade(s):Get Alphabet alerts:

On Tuesday, May 3rd, Amie Thuener O’toole sold 42 shares of Alphabet stock. The stock was sold at an average price of $2,335.30, for a total transaction of $98,082.60.
On Friday, April 1st, Amie Thuener O’toole sold 42 shares of Alphabet stock. The stock was sold at an average price of $2,800.20, for a total transaction of $117,608.40.

NASDAQ GOOG traded up $72.18 on Thursday, hitting $2,354.92. 1,373,569 shares of the company were exchanged, compared to its average volume of 1,582,973. The company has a market cap of $1.55 trillion, a PE ratio of 21.30, a PEG ratio of 1.07 and a beta of 1.13. Alphabet Inc. has a 12 month low of $2,044.16 and a 12 month high of $3,042.00. The stock has a fifty day moving average of $2,464.33 and a 200-day moving average of $2,675.68. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06.

Shares of Alphabet are scheduled to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be payable to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the prior year, the business earned $26.29 earnings per share. On average, analysts expect that Alphabet Inc. will post 112.46 earnings per share for the current year.

GOOG has been the subject of a number of research analyst reports. Tigress Financial upped their price objective on shares of Alphabet from $3,540.00 to $3,670.00 in a research report on Friday, March 18th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Alphabet from $3,150.00 to $2,900.00 in a research report on Wednesday, April 27th. Canaccord Genuity Group upped their price target on shares of Alphabet from $3,350.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, February 2nd. Cowen upped their price target on shares of Alphabet from $3,500.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday, February 2nd. Finally, Wedbush restated an “outperform” rating on shares of Alphabet in a research report on Wednesday, April 20th. One investment analyst has rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $3,308.77.

Several institutional investors have recently added to or reduced their stakes in GOOG. Morgan Stanley lifted its stake in shares of Alphabet by 2.1% in the second quarter. Morgan Stanley now owns 2,433,132 shares of the information services provider’s stock valued at $6,098,209,000 after buying an additional 50,601 shares in the last quarter. New World Advisors LLC purchased a new stake in shares of Alphabet in the third quarter valued at about $724,000. EagleClaw Capital Managment LLC raised its holdings in shares of Alphabet by 3.5% in the third quarter. EagleClaw Capital Managment LLC now owns 2,946 shares of the information services provider’s stock valued at $7,853,000 after purchasing an additional 99 shares during the last quarter. Legacy Wealth Planning LLC purchased a new stake in shares of Alphabet in the third quarter valued at about $205,000. Finally, BloombergSen Inc. raised its holdings in shares of Alphabet by 1.4% in the third quarter. BloombergSen Inc. now owns 45,471 shares of the information services provider’s stock valued at $121,180,000 after purchasing an additional 616 shares during the last quarter. 31.20% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

– MarketBeat News

So Alphabet stock doesn’t seem to be currently underperforming. If the cause of all these evolutions is not something happening in the present, Gates and the Alphabet CAO could very well have information about something in the future that determined them to take action. Insider info?

As for publicly available info on Alphabet’s future, the only notable event announced is:

Google parent Alphabet announced a 20-for-1 stock split. Here’s what that means and how it will impact investors – CNBC

In short, that means Alphabet shares aren’t many and they are expensive. It also means the current owners are not trading them enough to create speculative value growth. So they split every share in 20 tinier shares with the same total value. Those are bite-sized shares that smaller sharks can take on.

What that also means is that Alphabet needs funds and the little closed circle of rich elite stockholders isn’t providing enough, the actual business is not making much either, so they need to raise more from market speculations. The strategy chosen to achieve this:
They lower their pants a bit for easier plebeian access, in hope they will get access to more plebeian pockets in return.

While all this info might not be enough to derive definitive and specific conclusion about the future of these two pillars of the digital dome, namely Alphabet and Microsoft, a few things can be said with close to 100% certainty:

Extraordinary evolutions have extraordinary causes.

The Military BioTech Complex will have to transform and adapt to the extraordinary change it’s causing. That will reflect in its corporate avatars.

If Twitter is going through a self-inflicted crisis, it’s hardly possible for Google to fully avoid something similar, for the same reasons.
I’d guess Google should suffer even more from user backlash by now, because their offer is even easier to replace, but they’re just better at hiding it and there’s no Elon Musk to look under their hood.

Microsoft’s public image is inextricably tied to Bill Gates’, whose credibility took the most spectacular nosedive last couple of years.

These previous four statements might be one and the same.