Alphabet (NASDAQ:GOOGL) Director Sells $33,934.88 in Stock

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $302.99, for a total transaction of $33,934.88. Following the completion of the transaction, the director owned 18,418 shares of the company’s stock, valued at $5,580,469.82. The trade was a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Thursday, January 29th, Frances Arnold sold 102 shares of Alphabet stock. The stock was sold at an average price of $340.00, for a total value of $34,680.00.
  • On Wednesday, December 31st, Frances Arnold sold 102 shares of Alphabet stock. The stock was sold at an average price of $313.45, for a total value of $31,971.90.

Alphabet Price Performance

Shares of GOOGL stock traded down $0.45 during trading hours on Wednesday, reaching $303.13. The stock had a trading volume of 29,372,765 shares, compared to its average volume of 36,434,781. The stock’s fifty day simple moving average is $320.71 and its 200 day simple moving average is $284.77. The firm has a market capitalization of $3.67 trillion, a PE ratio of 28.04, a PEG ratio of 1.79 and a beta of 1.10. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $349.00. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.57 by $0.25. The business had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 7.77%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Tigress Financial set a $415.00 target price on Alphabet and gave the stock a “strong-buy” rating in a research report on Thursday, February 19th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Jefferies Financial Group upped their price objective on shares of Alphabet from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Canaccord Genuity Group set a $415.00 target price on shares of Alphabet in a report on Thursday, February 5th. Finally, UBS Group set a $348.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, forty-three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $366.57.

View Our Latest Analysis on GOOGL

Hedge Funds Weigh In On Alphabet

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC lifted its stake in shares of Alphabet by 9.6% in the 2nd quarter. Hutchens & Kramer Investment Management Group LLC now owns 4,900 shares of the information services provider’s stock valued at $862,000 after purchasing an additional 431 shares during the period. Matrix Asset Advisors Inc. NY boosted its position in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 581 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Alphabet by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after purchasing an additional 48,805 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Alphabet

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.

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

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