Representative Julie Johnson Acquires Alphabet Shares in October

Representative Julie Johnson (D-Texas) has purchased shares of Alphabet Inc. (NASDAQ:GOOG), according to a filing made public on November 14. The transaction, which took place on October 27, 2023, involved an investment between $1,001 and $15,000 and was conducted through her CHASE BROKERAGE ACCOUNT (3935).

On the trading front, shares of Alphabet experienced a notable increase of 3.3% on Friday, climbing $9.67 to reach $299.65. The trading volume for the day totaled 43,534,785 shares, a significant rise compared to its average volume of 23,614,018. Over the past year, Alphabet’s stock has fluctuated, hitting a 12-month low of $142.66 and a high of $306.89. The company’s current market capitalization stands at $3.62 trillion, with a price-to-earnings (P/E) ratio of 29.55 and a debt-to-equity ratio of 0.07.

Alphabet’s Dividend Announcement and Analyst Ratings

In line with its financial strategies, Alphabet has also announced a quarterly dividend of $0.21, payable on December 15, 2023. Shareholders on record as of December 8 will receive this dividend, resulting in an annualized payout of $0.84 and a yield of 0.3%. The company’s dividend payout ratio currently sits at 8.28%.

Recent analyst reports have reflected a positive outlook on Alphabet’s stock. Notably, Piper Sandler raised its target price from $285.00 to $330.00, assigning an “overweight” rating on October 30. Similarly, JPMorgan Chase & Co. increased its price target from $260.00 to $300.00, while Bank of America set its target at $335.00. Overall, seven analysts have rated Alphabet as a Strong Buy, while 26 have assigned a Buy rating, reflecting robust confidence in the company’s future performance.

Institutional Investor Movements and Insider Transactions

Institutional investors have recently shown increased interest in Alphabet. For instance, IFS Advisors LLC boosted its holdings by 400.0% in the second quarter, acquiring 150 shares worth approximately $27,000. Other institutions, like Robbins Farley and WestEnd Advisors LLC, have similarly increased their stakes in the company.

In insider trading news, Sundar Pichai, the company’s CEO, sold 32,500 shares on November 19 for an average price of $296.64, amounting to a transaction total of $9,640,800.00. Following this sale, he retains ownership of 2,304,619 shares, valued at approximately $683,642,180.16, which represents a 1.39% decrease in his position. Additionally, Amie Thuener O’toole, the chief accounting officer, sold 2,778 shares on November 17 for around $800,786.28.

As of now, 12.99% of Alphabet’s stock is held by insiders, while institutional investors and hedge funds collectively own 27.26% of the company.

About Representative Julie Johnson

Julie Johnson serves as a member of the U.S. House, representing Texas’ 32nd Congressional District since assuming office on January 3, 2025. She earned her B.A. in history and government from the University of Texas at Austin and later a J.D. from the University of Houston Law Center. Johnson’s legal background includes extensive experience as an attorney, contributing to her role in Congress.

Alphabet Inc. operates globally, providing various products and services across different regions, including the United States, Europe, the Asia-Pacific, and Latin America. Its primary segments include Google Services and Google Cloud, driving innovation in the tech industry.