Insider Selling: Alphabet (NASDAQ:GOOGL) Director Sells $38,862.00 in Stock

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) Director Frances Arnold sold 102 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director owned 18,721 shares in the company, valued at $7,132,701. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Thursday, April 30th, Frances Arnold sold 102 shares of Alphabet stock. The shares were sold at an average price of $371.00, for a total value of $37,842.00.

Alphabet Stock Performance

Shares of GOOGL stock opened at $358.99 on Thursday. The business’s 50 day simple moving average is $349.51 and its 200 day simple moving average is $326.85. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The stock has a market capitalization of $4.35 trillion, a PE ratio of 27.38, a PEG ratio of 1.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. As a group, research analysts forecast that Alphabet Inc. will post 14.28 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is currently 6.41%.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently modified their holdings of GOOGL. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet in the 4th quarter worth $32,000. EMC Capital Management bought a new position in shares of Alphabet in the 4th quarter worth $33,000. PMV Capital Advisers LLC purchased a new stake in Alphabet in the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet during the 4th quarter valued at $38,000. Finally, Bard Associates Inc. purchased a new position in Alphabet during the 4th quarter worth $52,000. 40.03% of the stock is currently owned by institutional investors.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Analyst Ratings Changes

A number of research firms have issued reports on GOOGL. Robert W. Baird increased their price target on Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Argus increased their price target on Alphabet from $365.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, February 6th. CICC Research increased their price target on Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a report on Friday, May 1st. Canaccord Genuity Group increased their price target on Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.04.

Check Out Our Latest Analysis on GOOGL

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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Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOGL)

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