Alphabet (NASDAQ:GOOGL) Director Frances Arnold Sells 103 Shares

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 103 shares of the firm’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 owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The sale 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 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 value of $21,195.60.

Alphabet Stock Performance

GOOGL opened at $243.10 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.94 trillion, a PE ratio of 25.89, a P/E/G ratio of 1.65 and a beta of 1.01. The business has a fifty day simple moving average of $218.05 and a 200-day simple moving average of $184.24. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Beddow Capital Management Inc. boosted its stake in shares of Alphabet by 2.0% in the 2nd quarter. Beddow Capital Management Inc. now owns 2,510 shares of the information services provider’s stock valued at $445,000 after purchasing an additional 50 shares during the last quarter. Gimbal Financial lifted its holdings in Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after buying an additional 53 shares during the period. Missouri Trust & Investment Co boosted its position in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares during the last quarter. Silver Coast Investments LLC boosted its position in Alphabet by 1.3% during the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after acquiring an additional 55 shares during the last quarter. Finally, North Berkeley Wealth Management LLC grew its holdings in Alphabet by 1.3% during the 2nd quarter. North Berkeley Wealth Management LLC now owns 4,200 shares of the information services provider’s stock worth $740,000 after acquiring an additional 55 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. DA Davidson boosted their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada increased their target price on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Tigress Financial raised their target price on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. KeyCorp lifted their price target on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, Wedbush increased their price objective on Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $235.63.

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.