Key Points
- Major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 Alphabet shares on Jan. 30 at $19.00 each, totaling $35,060,852, according to an SEC Form 4 filing.
- Alphabet shares opened at $338 with a market capitalization near $4.08 trillion and a P/E of 33.33; analysts' consensus is a Moderate Buy with an average price target of $334.60.
- Recent company developments include Google launching Project Genie, an AI that creates interactive 3D worlds (a potential cloud/AI growth driver), while Waymo’s expansion faces regulatory/PR risk after a robotaxi incident and a guilty verdict for a former engineer accused of stealing AI materials.
Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director Frances Arnold sold 102 shares of the business's stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $340.00, for a total transaction of $34,680.00. Following the completion of the sale, the director owned 18,307 shares in the company, valued at $6,224,380. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Frances Arnold also recently made the following trade(s):
- 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 transaction of $31,971.90.
- On Monday, December 1st, Frances Arnold sold 102 shares of Alphabet stock. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $338.00 on Friday. The company has a market capitalization of $4.08 trillion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 1.86 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a fifty day moving average of $320.23 and a 200-day moving average of $264.99. Alphabet Inc. has a one year low of $140.53 and a one year high of $342.29.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $102.35 billion for the quarter, compared to analysts' expectations of $99.90 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
Institutional Investors Weigh In On Alphabet
Several institutional investors have recently made changes to their positions in GOOGL. Financial Gravity Companies Inc. bought a new stake in Alphabet in the second quarter worth $31,000. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet in the fourth quarter worth about $38,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock worth $44,000 after acquiring an additional 67 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Alphabet during the 3rd quarter worth about $53,000. Finally, Kentucky Trust Co increased its holdings in shares of Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after acquiring an additional 100 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GOOGL has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of Alphabet from $270.00 to $300.00 and gave the company an "outperform" rating in a research note on Monday, October 20th. Wolfe Research upped their price target on shares of Alphabet from $380.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, January 23rd. Canaccord Genuity Group set a $390.00 price objective on shares of Alphabet and gave the stock a "buy" rating in a research note on Wednesday, January 7th. Robert W. Baird boosted their target price on shares of Alphabet from $310.00 to $350.00 and gave the company an "outperform" rating in a research note on Tuesday, January 20th. Finally, CIBC raised their target price on Alphabet to $315.00 in a research report on Monday, October 20th. Four investment analysts have rated the stock with a Strong Buy rating, forty-two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $334.60.
View Our Latest Stock Report on GOOGL
Alphabet Company Profile
(
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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