Frances Arnold Sells 112 Shares of Alphabet (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, September 30th, Frances Arnold sold 103 shares of Alphabet stock. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39.
• 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 Performance

Shares of NASDAQ GOOGL traded up $2.53 during midday trading on Monday, hitting $283.72. The company’s stock had a trading volume of 28,677,316 shares, compared to its average volume of 36,001,520. The stock has a fifty day moving average price of $244.00 and a 200 day moving average price of $200.31. 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 firm has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Alphabet during the second quarter valued at approximately $21,944,208,000. Nuveen LLC bought a new stake in Alphabet during the first quarter valued at about $4,317,606,000. Laurel Wealth Advisors LLC increased its position in Alphabet by 17,667.7% in the second quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock worth $2,686,640,000 after buying an additional 15,159,273 shares in the last quarter. Vanguard Group Inc. increased its position in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Alphabet by 51.7% in the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock worth $5,607,232,000 after buying an additional 10,843,853 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday. DA Davidson increased their target price on Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday. Citizens Jmp raised their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Wolfe Research reissued an “outperform” rating and issued a $350.00 price target (up previously from $290.00) on shares of Alphabet in a report on Thursday. Finally, Loop Capital lifted their target price on shares of Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, October 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $302.20.

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.