Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold Sells 121 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 121 shares of Alphabet stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $170.30, for a total value of $20,606.30. Following the transaction, the director now directly owns 16,938 shares in the company, valued at approximately $2,884,541.40. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, January 30th, Frances Arnold sold 110 shares of Alphabet stock. The shares were sold at an average price of $200.00, for a total value of $22,000.00.
• On Tuesday, December 31st, Frances Arnold sold 111 shares of Alphabet stock. The shares were sold at an average price of $192.49, for a total value of $21,366.39.

Alphabet Trading Up 1.1 %

Shares of NASDAQ:GOOGL opened at $170.33 on Friday. The business’s 50-day moving average is $190.58 and its 200 day moving average is $176.11. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 21.16, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

Several analysts recently issued reports on GOOGL shares. Loop Capital lifted their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Bank of America reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research note on Thursday, February 6th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. State Street Corp increased its holdings in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC increased its holdings in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at about $24,383,677,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

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.