Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the sale, the director owned 18,833 shares of the company’s stock, valued at $6,615,656.24. This trade represents a 0.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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 Stock Up 1.1%
Shares of GOOGL opened at $357.37 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $172.77 and a 12 month high of $408.61. The firm’s 50 day moving average is $369.61 and its 200-day moving average is $333.53. The stock has a market capitalization of $4.33 trillion, a PE ratio of 27.26, a P/E/G ratio of 1.51 and a beta of 1.23.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. 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 a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on GOOGL shares. Wells Fargo & Company reissued an “overweight” rating and set a $435.00 target price (up from $427.00) on shares of Alphabet in a report on Wednesday, May 20th. BNP Paribas Exane boosted their price target on Alphabet from $390.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Susquehanna reaffirmed a “positive” rating and set a $460.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Arete Research increased their price objective on shares of Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Finally, China Renaissance raised their target price on shares of Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $413.90.
Read Our Latest Report on GOOGL
Institutional Trading of Alphabet
Several large investors have recently bought and sold shares of the business. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet during the fourth quarter worth $32,000. EMC Capital Management bought a new position in shares of Alphabet in the 4th quarter valued at $33,000. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Finally, Bard Associates Inc. bought a new stake in Alphabet during the 4th quarter worth $52,000. 40.03% of the stock is owned by institutional investors and hedge funds.
Trending Headlines about Alphabet
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
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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