Insider Selling: Alphabet (NASDAQ:GOOGL) Director Sells 102 Shares of Stock

by · The Markets Daily

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the sale, the director directly owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. This represents a 0.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Thursday, October 30th, Frances Arnold sold 112 shares of Alphabet stock. The stock was 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 value of $25,042.39.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded up $0.92 during midday trading on Tuesday, hitting $315.81. The company had a trading volume of 35,791,470 shares, compared to its average volume of 43,333,772. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The stock has a market cap of $3.81 trillion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The business’s 50-day simple moving average is $270.48 and its 200-day simple moving average is $220.62.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Alphabet by 1.7% in the 3rd quarter. Allworth Financial LP now owns 269,379 shares of the information services provider’s stock valued at $65,486,000 after buying an additional 4,613 shares during the period. IFP Advisors Inc grew its position in Alphabet by 5.3% in the 3rd quarter. IFP Advisors Inc now owns 128,858 shares of the information services provider’s stock valued at $31,330,000 after acquiring an additional 6,444 shares in the last quarter. Swiss Life Asset Management Ltd grew its position in Alphabet by 5.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 2,135,432 shares of the information services provider’s stock valued at $519,124,000 after acquiring an additional 101,080 shares in the last quarter. Steadtrust LLC increased its stake in Alphabet by 6.8% during the third quarter. Steadtrust LLC now owns 10,820 shares of the information services provider’s stock worth $2,630,000 after purchasing an additional 687 shares during the period. Finally, Stillwater Wealth Management Group acquired a new stake in shares of Alphabet during the third quarter worth about $898,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Susquehanna lifted their price target on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. Truist Financial upped their price objective on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. China Renaissance increased their price objective on Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, HSBC lifted their target price on Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.06.

Get Our Latest Analysis on Alphabet

Alphabet Company Profile

(Get Free Report)

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.

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