Frances Arnold Sells 80 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 80 shares of Alphabet stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $167.38, for a total value of $13,390.40. Following the completion of the sale, the director now directly owns 15,551 shares of the company’s stock, valued at $2,602,926.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, March 28th, Frances Arnold sold 90 shares of Alphabet stock. The shares were sold at an average price of $152.00, for a total value of $13,680.00.
• On Thursday, February 29th, Frances Arnold sold 100 shares of Alphabet stock. The stock was sold at an average price of $138.22, for a total value of $13,822.00.

Alphabet Trading Down 2.0 %

Shares of GOOGL traded down $3.37 during trading hours on Tuesday, hitting $162.78. The stock had a trading volume of 33,503,634 shares, compared to its average volume of 30,866,035. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.45, a P/E/G ratio of 1.57 and a beta of 1.05. The company’s fifty day simple moving average is $148.36 and its 200 day simple moving average is $141.62. Alphabet Inc. has a 12-month low of $103.71 and a 12-month high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the company posted $1.17 EPS. Equities research analysts forecast that Alphabet Inc. will post 6.82 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOGL shares. Citigroup upped their price objective on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada upped their price objective on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company upped their price objective on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday. Rosenblatt Securities upped their price objective on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday. Finally, TD Cowen boosted their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $189.74.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet in the fourth quarter valued at about $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter valued at about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at about $38,000. Meritage Group LP grew its stake in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its stake in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.