Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) Director Sells 950 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL – Get Rating) Director Frances Arnold sold 950 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $125.25, for a total value of $118,987.50. Following the completion of the transaction, the director now directly owns 13,040 shares of the company’s stock, valued at approximately $1,633,260. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Alphabet Stock Performance

NASDAQ GOOGL traded up $1.13 on Friday, hitting $124.61. 35,032,108 shares of the company traded hands, compared to its average volume of 37,998,840. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 1.54 and a beta of 1.10. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $108.64 and its 200-day moving average price is $99.13. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $126.43.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same period in the previous year, the business earned $1.23 earnings per share. Equities analysts expect that Alphabet Inc. will post 5.41 earnings per share for the current year.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently bought and sold shares of GOOGL. Fortis Group Advisors LLC bought a new stake in shares of Alphabet in the first quarter worth about $597,000. Sheets Smith Wealth Management boosted its position in Alphabet by 1.1% during the 1st quarter. Sheets Smith Wealth Management now owns 11,722 shares of the information services provider’s stock valued at $1,216,000 after acquiring an additional 122 shares in the last quarter. Empower Advisory Group LLC bought a new stake in Alphabet during the 1st quarter valued at $10,083,000. Legato Capital Management LLC lifted its holdings in shares of Alphabet by 7.0% during the 1st quarter. Legato Capital Management LLC now owns 35,654 shares of the information services provider’s stock valued at $3,698,000 after purchasing an additional 2,334 shares during the last quarter. Finally, Garde Capital Inc. lifted its holdings in shares of Alphabet by 2.8% during the 1st quarter. Garde Capital Inc. now owns 55,430 shares of the information services provider’s stock valued at $5,750,000 after purchasing an additional 1,525 shares during the last quarter. 34.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Citigroup raised their price objective on Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. Oppenheimer raised their price objective on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Barclays raised their price objective on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, Roth Mkm raised their price objective on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.56.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.