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On February 18, Shriram Kavitark Ram, a director at Alphabet Inc. (NASDAQ:GOOGL), sold a significant portion of his holdings in the company, totaling approximately $9.81 million. The transactions involved multiple sales of Class A Common Stock, with prices ranging from $182.494 to $185.5098 per share. The tech giant, currently valued at $2.25 trillion, has maintained strong financial performance with 13.87% revenue growth over the last twelve months. According to InvestingPro analysis, the stock is trading close to its Fair Value.
The sales were executed as part of a pre-established trading plan under Rule 10b5-1, which allows insiders to set up a predetermined plan to sell stocks. This filing indicates that Ram’s transactions were made in compliance with this rule, which was adopted by him and his spouse on May 30, 2024. InvestingPro data shows Alphabet maintains excellent financial health with a "GREAT" overall score, holding more cash than debt on its balance sheet. Discover 10+ additional exclusive insights about GOOGL with an InvestingPro subscription.
Following these transactions, Ram continues to hold a substantial number of shares in Alphabet through various trusts and direct ownership, reflecting his ongoing investment in the company. The stock currently trades at a P/E ratio of 22.97, with comprehensive analysis available in the Pro Research Report on InvestingPro.
In other recent news, Google’s European division has settled a tax claim by agreeing to pay $340 million to Milan prosecutors. This settlement covers the period from 2015 to 2019 and concludes the legal proceedings related to the tax dispute. Meanwhile, Google is making strides in the cryptocurrency space with plans to integrate its authentication protocols with Bitcoin wallets. This initiative aims to simplify access to Bitcoin, though it has sparked mixed reactions regarding privacy and security concerns.
Additionally, Alphabet Inc., Google’s parent company, saw Mizuho (NYSE:MFG) Securities adjust its price target for the company from $235 to $230 due to mixed financial results. While advertising revenues exceeded expectations, the Google Cloud division underperformed due to capacity constraints. In other developments, Google, along with SoftBank (TYO:9984), has invested in QuEra Computing Inc., a startup focused on advancing quantum computing technology. QuEra recently raised $230 million, showcasing growing interest in quantum computing’s practical applications. These recent developments highlight Google’s ongoing efforts in diverse technological areas.
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