Alphabet (NASDAQ:GOOG) Director Sells $32,401.32 in Stock

Alphabet Inc. (NASDAQ:GOOG) Director Frances Arnold sold 102 shares of Alphabet 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 completion of the transaction, the director owned 18,104 shares of the company’s stock, valued at $5,750,916.64. The trade was a 0.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, October 30th, Frances Arnold sold 112 shares of Alphabet stock. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60.
• On Tuesday, September 30th, Frances Arnold sold 103 shares of Alphabet stock. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39.

Alphabet Stock Performance

Alphabet stock traded up $0.90 during mid-day trading on Tuesday, reaching $316.02. The company’s stock had a trading volume of 24,634,482 shares, compared to its average volume of 27,009,366. The firm’s fifty day moving average price is $271.07 and its two-hundred day moving average price is $221.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $328.67. The company has a market capitalization of $3.81 trillion, a P/E ratio of 31.08, a PEG ratio of 1.82 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Jefferies Financial Group increased their price objective on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Scotiabank set a $336.00 target price on Alphabet and gave the stock a “sector outperform” rating in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $307.22.

Institutional Trading of Alphabet

A number of hedge funds have recently made changes to their positions in the stock. Standard Investments LLC purchased a new position in Alphabet in the third quarter worth $77,936,000. IFP Advisors Inc lifted its stake in Alphabet by 9.1% during the third quarter. IFP Advisors Inc now owns 88,785 shares of the information services provider’s stock worth $21,634,000 after purchasing an additional 7,436 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of Alphabet by 6.1% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 1,597,164 shares of the information services provider’s stock worth $388,989,000 after purchasing an additional 91,217 shares in the last quarter. Innova Wealth Partners boosted its holdings in shares of Alphabet by 17.6% in the 3rd quarter. Innova Wealth Partners now owns 2,104 shares of the information services provider’s stock worth $512,000 after purchasing an additional 315 shares in the last quarter. Finally, Steadtrust LLC increased its position in shares of Alphabet by 10.3% during the 3rd quarter. Steadtrust LLC now owns 14,591 shares of the information services provider’s stock valued at $3,554,000 after purchasing an additional 1,366 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Company Profile

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.