Alphabet Inc. (NASDAQ:GOOG – Get Free Report) Director Frances Arnold sold 102 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the sale, the director owned 18,721 shares of the company’s stock, valued at $7,132,701. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction of $37,842.00.
Alphabet Stock Performance
Shares of GOOG opened at $372.58 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.51 trillion, a P/E ratio of 28.42, a PEG ratio of 1.61 and a beta of 1.25. The company has a 50-day moving average of $344.61 and a two-hundred day moving average of $325.11. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.71%.
Analyst Ratings Changes
GOOG has been the topic of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $348.00 price target (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. KeyCorp restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Piper Sandler reiterated an “overweight” rating and issued a $395.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Wells Fargo & Company restated an “overweight” rating on shares of Alphabet in a research report on Tuesday. Finally, Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus price target of $378.50.
View Our Latest Stock Analysis on GOOG
Institutional Investors Weigh In On Alphabet
Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. State Street Corp lifted its position in Alphabet by 0.5% in the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock worth $58,712,878,000 after purchasing an additional 953,790 shares during the period. Auto Owners Insurance Co lifted its position in Alphabet by 38,409.2% in the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after purchasing an additional 179,369,280 shares during the period. J. Stern & Co. LLP lifted its position in Alphabet by 28,482.8% in the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after purchasing an additional 111,699,704 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Alphabet by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock worth $31,569,189,000 after purchasing an additional 1,073,151 shares during the period. 27.26% of the stock is owned by institutional investors.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Berkshire Hathaway’s planned $10 billion investment in Alphabet adds a major vote of confidence and helps validate the company’s AI expansion strategy. Berkshire invests extra $10 billion in Alphabet, deepening bet on AI
- Positive Sentiment: Analyst commentary said Google is a clear beneficiary as AI search grows, supporting the view that Alphabet can defend and extend its core search franchise even as AI competition intensifies. Google Is the Clear Beneficiary,” Says Top Analyst as AI Search Takes Off
- Neutral Sentiment: Alphabet’s ties to high-profile private AI names like Anthropic and SpaceX could give investors additional indirect exposure ahead of possible future IPOs, though this is more of a longer-term optionality story. Alphabet Stock Offers Exposure To SpaceX, Anthropic Before IPOs: What That Means For Investors
- Negative Sentiment: The planned $80 billion capital raise may weigh on sentiment because it implies substantial spending needs and potential dilution, even if it strengthens Alphabet’s AI capacity. Alphabet plans to raise $80 billion to pay for AI buildout
- Negative Sentiment: Reuters reported the EU may tighten cloud rules in strategic tenders, potentially limiting Google’s access to some government contracts in Europe. EU cloud rules to curb Amazon, Google access to strategic tenders
About Alphabet
Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.
Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
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