Insider Selling: Alphabet (NASDAQ:GOOGL) Director Sells $39,343.36 in Stock

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director Frances Arnold sold 112 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

• JPMorgan Stands by Sky-High Broadcom Target as Shares Slide

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

• On Friday, May 29th, Frances Arnold sold 102 shares of Alphabet stock. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00.
• On Thursday, April 30th, Frances Arnold sold 102 shares of Alphabet stock. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00.

Alphabet Trading Up 1.1%

GOOGL opened at $357.37 on Wednesday. Alphabet Inc. has a fifty-two week low of $172.77 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.51 and a beta of 1.23. The company's 50 day moving average price is $369.61 and its two-hundred day moving average price is $333.53.

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• Why Alphabet’s Pullback May Be an Opportunity in Disguise

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, research analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is 6.71%.

Hedge Funds Weigh In On Alphabet

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A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Matrix Asset Advisors Inc. NY boosted its position in shares of Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after buying an additional 48,805 shares during the period. Finally, United Bank grew its stake in shares of Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after buying an additional 3,120 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GOOGL shares. President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Truist Financial set a $430.00 price objective on Alphabet and gave the stock a "buy" rating in a research note on Friday, May 29th. BMO Capital Markets increased their target price on shares of Alphabet from $410.00 to $435.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. UBS Group restated a "neutral" rating on shares of Alphabet in a report on Wednesday, May 20th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Alphabet in a research report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $413.90.

Check Out Our Latest Stock Report on Alphabet

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, which boosted demand for the shares and highlighted the company’s growing importance in AI and large-cap tech. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Several reports pointed to bullish Wall Street views, including a higher price target from analysts and commentary that Alphabet remains a strong long-term growth stock. Alphabet Replaces Verizon In Dow Jones As Analyst Boosts Target To $415
• Positive Sentiment: Google introduced Nano Banana 2 Lite, a faster and cheaper AI image/video generator, which may strengthen its competitive position in generative AI. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signed on to use the OpenUSD stablecoin for money movement, expanding Alphabet’s presence in digital payments and emerging commerce infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: One director disclosed a small stock sale, which is routine and not large enough to signal a major change in fundamentals. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: UK regulators are targeting Apple and Google app-store fees and payment restrictions, which could pressure Alphabet’s services revenue and app platform economics if rules are tightened. UK targets Apple, Google app store fees for developers
• Negative Sentiment: Some AI-related headlines noted talent loss to rivals and ongoing concerns about regulatory and AI-related risks, which may limit upside enthusiasm near term. Google hit by new AI brain drain as Anthropic poaches top Gemini talent

About Alphabet

(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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