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

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Alphabet Stock Down 1.2 %

Shares of GOOGL traded down $2.05 during mid-day trading on Monday, hitting $169.24. 20,936,597 shares of the company’s stock were exchanged, compared to its average volume of 27,219,025. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm has a fifty day moving average of $162.49 and a two-hundred day moving average of $169.20. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the business earned $1.55 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.91 earnings per share for the current year.

Alphabet Dividend Announcement

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 issued a dividend of $0.20 per share. 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%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Guggenheim increased their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Truist Financial increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Citigroup lifted their price objective on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.51.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter worth $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter valued at $41,000. CarsonAllaria Wealth Management Ltd. boosted its position in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the period. Finally, Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter worth about $53,000. Institutional investors own 40.03% of the company’s stock.

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.