Key Points
- Frances Arnold sold 102 shares of Alphabet on Dec. 1 at an average price of $317.66 for $32,401.32, trimming her holding to 18,104 shares (a 0.56% reduction, valued at about $5.75M).
- The Dec. 1 sale continues a recent pattern of modest insider sales by Arnold — she also sold 112 shares on Oct. 30 (avg $291.80) and 103 shares on Sept. 30 (avg $243.13).
- Alphabet announced a quarterly dividend of $0.21 per share (ex-dividend Dec. 8, payable Dec. 15), equal to a $0.84 annualized payout and roughly a 0.3% yield.
Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director Frances Arnold sold 102 shares of the company's stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the transaction, the director owned 18,104 shares of the company's stock, valued at approximately $5,750,916.64. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Frances Arnold also recently made the following trade(s):
- On Thursday, October 30th, Frances Arnold sold 112 shares of Alphabet stock. The stock was sold at an average price of $291.80, for a total value of $32,681.60.
- 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 value of $25,042.39.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL opened at $315.81 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The firm has a market capitalization of $3.81 trillion, a PE ratio of 31.15, a P/E/G ratio of 1.82 and a beta of 1.07. The business's 50 day moving average price is $271.77 and its 200-day moving average price is $221.67.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet's dividend payout ratio is currently 8.28%.
Hedge Funds Weigh In On Alphabet
Hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC grew its position in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Alaethes Wealth LLC boosted its stake in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after acquiring an additional 84 shares in the last quarter. Moment Partners LLC boosted its stake in Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider's stock valued at $1,039,000 after acquiring an additional 504 shares in the last quarter. Welch Group LLC grew its holdings in shares of Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider's stock worth $11,325,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Elgethun Capital Management increased its position in shares of Alphabet by 4.8% during the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider's stock worth $1,312,000 after purchasing an additional 390 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on GOOGL. Susquehanna raised their target price on shares of Alphabet from $225.00 to $350.00 and gave the stock a "positive" rating in a research note on Thursday, October 30th. Jefferies Financial Group increased their price target on Alphabet from $285.00 to $320.00 and gave the company a "buy" rating in a report on Thursday, October 30th. Morgan Stanley boosted their price objective on Alphabet from $270.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, October 30th. Roth Capital raised their target price on Alphabet from $210.00 to $265.00 and gave the stock a "buy" rating in a research note on Thursday, October 16th. Finally, Piper Sandler reiterated an "overweight" rating and set a $330.00 price target (up previously from $285.00) on shares of Alphabet in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $312.06.
Check Out Our Latest Analysis on GOOGL
About Alphabet
(
Get Free Report)
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.
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