Alphabet (NASDAQ:GOOG) Director Sells $38,862.00 in Stock

by · The Cerbat Gem

Alphabet Inc. (NASDAQ:GOOGGet Free Report) Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred 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 transaction, the director directly owned 18,721 shares in the company, valued at $7,132,701. This represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $371.00, for a total transaction of $37,842.00.

Alphabet Stock Down 1.0%

Shares of GOOG traded down $3.85 during mid-day trading on Monday, reaching $372.58. The company’s stock had a trading volume of 18,749,235 shares, compared to its average volume of 17,981,300. The business has a fifty day moving average of $343.28 and a 200 day moving average of $324.54. The company has a market cap of $4.51 trillion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.23. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 EPS. As a group, analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GOOG. Providence Wealth Advisors LLC increased its holdings in Alphabet by 0.3% during the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock worth $3,094,000 after buying an additional 29 shares during the last quarter. One Charles Private Wealth Services LLC increased its holdings in shares of Alphabet by 0.6% in the first quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider’s stock valued at $1,390,000 after purchasing an additional 29 shares during the last quarter. Ring Mountain Capital LLC increased its holdings in shares of Alphabet by 0.9% in the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after purchasing an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. increased its holdings in shares of Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after purchasing an additional 30 shares during the last quarter. Finally, Financial Enhancement Group LLC increased its holdings in shares of Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $345.00 price target on shares of Alphabet in a report on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating and set a $400.00 target price on shares of Alphabet in a research report on Thursday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Freedom Capital cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company set a $515.00 price target on shares of Alphabet in a research report on Monday. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $378.50.

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About Alphabet

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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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