Frances Arnold Sells 103 Shares of Alphabet (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Frances Arnold also recently made the following trade(s):

• On Thursday, August 28th, Frances Arnold sold 102 shares of Alphabet stock. The stock was sold at an average price of $207.80, for a total value of $21,195.60.

Alphabet Stock Performance

Shares of Alphabet stock opened at $244.90 on Thursday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The firm has a market capitalization of $2.96 trillion, a P/E ratio of 26.08, a P/E/G ratio of 1.64 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $219.14 and a two-hundred day simple moving average of $184.66.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Institutional Investors Weigh In On Alphabet

A number of hedge funds have recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its holdings in Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after buying an additional 6,733,278 shares during the last quarter. State Street Corp boosted its stake in shares of Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after acquiring an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Alphabet by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after acquiring an additional 4,224,497 shares during the period. Norges Bank purchased a new stake in shares of Alphabet in the 2nd quarter worth $21,944,208,000. Finally, Invesco Ltd. raised its holdings in Alphabet by 1.2% in the 2nd quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock worth $7,780,875,000 after purchasing an additional 503,306 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Canaccord Genuity Group increased their target price on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Wells Fargo & Company upped their price target on shares of Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Needham & Company LLC raised their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. BMO Capital Markets upped their target price on shares of Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, Westpark Capital raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.10.

Alphabet Company Profile

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