Insider Selling: Alphabet (NASDAQ:GOOGL) Director Sells $39,343.36 in Stock

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director owned 18,833 shares in the company, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

  • On Friday, May 29th, Frances Arnold sold 102 shares of Alphabet stock. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00.
  • On Thursday, April 30th, Frances Arnold sold 102 shares of Alphabet stock. The shares were sold at an average price of $371.00, for a total transaction of $37,842.00.

Alphabet Stock Down 0.4%

NASDAQ GOOGL opened at $359.91 on Friday. The business has a fifty day moving average price of $370.64 and a two-hundred day moving average price of $334.23. The stock has a market capitalization of $4.36 trillion, a PE ratio of 27.45, a PEG ratio of 1.54 and a beta of 1.24. Alphabet Inc. has a fifty-two week low of $172.77 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Equities analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Hedge Funds Weigh In On Alphabet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at about $30,534,239,000. Berkshire Hathaway Inc bought a new position in shares of Alphabet during the third quarter worth about $4,338,397,000. Cardano Risk Management B.V. lifted its stake in shares of Alphabet by 855.3% in the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock worth $4,546,413,000 after acquiring an additional 13,004,828 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares during the period. Finally, Capital World Investors boosted its holdings in Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after acquiring an additional 11,605,785 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOGL. China Renaissance increased their target price on shares of Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 price target (up from $375.00) on shares of Alphabet in a report on Tuesday. New Street Research upped their price objective on shares of Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. CICC Research upped their price objective on shares of Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Susquehanna reissued a “positive” rating and issued a $460.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $413.54.

View Our Latest Stock Report on Alphabet

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

About Alphabet

(Get Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOGL)

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