Frances Arnold Sells 441 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alphabet Trading Down 1.2 %

GOOGL stock traded down $2.05 during trading on Monday, reaching $169.24. 20,936,597 shares of the stock traded hands, compared to its average volume of 27,219,025. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The business’s 50 day moving average price is $162.49 and its 200-day moving average price is $169.20. The firm has a market capitalization of $2.08 trillion, a PE ratio of 22.45, a P/E/G ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.91 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOGL shares. UBS Group upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Tigress Financial upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GOOGL. Jaffetilchin Investment Partners LLC boosted its stake in shares of Alphabet by 11.1% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 88,221 shares of the information services provider’s stock valued at $14,631,000 after purchasing an additional 8,783 shares in the last quarter. Core Wealth Partners LLC increased its position in Alphabet by 10.4% in the third quarter. Core Wealth Partners LLC now owns 11,754 shares of the information services provider’s stock worth $1,950,000 after purchasing an additional 1,106 shares during the last quarter. GDS Wealth Management boosted its stake in Alphabet by 3.0% during the third quarter. GDS Wealth Management now owns 114,056 shares of the information services provider’s stock worth $18,916,000 after buying an additional 3,354 shares during the period. TRU Independence Asset Management 2 LLC bought a new position in Alphabet in the third quarter worth about $820,000. Finally, Catalytic Wealth RIA LLC increased its holdings in shares of Alphabet by 22.2% during the third quarter. Catalytic Wealth RIA LLC now owns 62,046 shares of the information services provider’s stock valued at $10,290,000 after acquiring an additional 11,254 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

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.