Alphabet (NASDAQ:GOOGL) Director Frances Arnold Sells 102 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 102 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $207.80, for a total transaction of $21,195.60. Following the transaction, the director owned 17,387 shares of the company’s stock, valued at approximately $3,613,018.60. The trade was a 0.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, June 30th, Frances Arnold sold 101 shares of Alphabet stock. The shares were sold at an average price of $196.31, for a total value of $19,827.31.
• On Monday, June 30th, Frances Arnold sold 121 shares of Alphabet stock. The stock was sold at an average price of $180.72, for a total value of $21,867.12.

Alphabet Trading Up 0.6%

NASDAQ:GOOGL opened at $212.91 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $214.65. The stock has a market cap of $2.57 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.42 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50-day simple moving average of $190.44 and a 200-day simple moving average of $174.11.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

Hedge Funds Weigh In On Alphabet

Several institutional investors have recently added to or reduced their stakes in GOOGL. Eagle Capital Management LLC lifted its stake in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares during the period. Brighton Jones LLC raised its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Highview Capital Management LLC DE lifted its position in Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after purchasing an additional 1,003 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. KeyCorp increased their target price on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Citigroup upped their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. DA Davidson raised their price objective on Alphabet from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their target price on Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Finally, Westpark Capital raised their price target on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.53.

About Alphabet

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.