Insider Selling: Alphabet (NASDAQ:GOOGL) Director Sells $25,042.39 in Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 103 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $207.80, for a total transaction of $21,195.60.

Alphabet Stock Up 0.3%

GOOGL stock opened at $245.69 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s fifty day simple moving average is $220.21 and its 200-day simple moving average is $185.22. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a market capitalization of $2.97 trillion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Institutional Investors Weigh In On Alphabet

Several institutional investors have recently made changes to their positions in the stock. Boyum Wealth Architects LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth $275,000. Central Pacific Bank Trust Division boosted its position in shares of Alphabet by 10.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 26,961 shares of the information services provider’s stock worth $6,554,000 after buying an additional 2,442 shares in the last quarter. St. Louis Financial Planners Asset Management LLC raised its stake in Alphabet by 3.5% in the 3rd quarter. St. Louis Financial Planners Asset Management LLC now owns 15,653 shares of the information services provider’s stock valued at $3,805,000 after purchasing an additional 526 shares during the last quarter. GAMMA Investing LLC raised its stake in Alphabet by 11.2% in the 3rd quarter. GAMMA Investing LLC now owns 131,083 shares of the information services provider’s stock valued at $31,866,000 after purchasing an additional 13,198 shares during the last quarter. Finally, Capital Asset Advisory Services LLC raised its stake in Alphabet by 2.7% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 59,437 shares of the information services provider’s stock valued at $14,449,000 after purchasing an additional 1,582 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Truist Financial increased their target price on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Mizuho set a $295.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday. Citigroup lifted their price target on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. KeyCorp raised their price objective on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Four research 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 company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $240.76.

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.