Frances Arnold Sells 111 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

03 Dec 2024, 05:44 by Jessica Moore · The Cerbat Gem

Alphabet Inc. (NASDAQ:GOOG – Get Free Report) Director Frances Arnold sold 111 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.98, for a total value of $18,867.78. Following the completion of the sale, the director now owns 16,599 shares in the company, valued at $2,821,498.02. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

On Monday, November 4th, Frances Arnold sold 441 shares of Alphabet stock. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46.

Alphabet Price Performance

Alphabet stock opened at $172.98 on Tuesday. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.19 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The stock’s 50 day moving average is $169.98 and its 200-day moving average is $171.82.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the firm posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm 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 dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is presently 10.61%.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after buying an additional 5,655,022 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after acquiring an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after purchasing an additional 1,291,274 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after purchasing an additional 636,008 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOG. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer raised their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Check Out Our Latest Report on GOOG

Alphabet Company Profile

(Get Free Report)