Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) Director Sells 111 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 111 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.98, for a total transaction of $18,867.78. Following the sale, the director now owns 16,599 shares of the company’s stock, valued at $2,821,498.02. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Alphabet Trading Up 1.5 %

GOOGL stock traded up $2.54 during trading on Monday, hitting $171.49. The company had a trading volume of 23,062,387 shares, compared to its average volume of 27,147,238. The firm has a market capitalization of $2.10 trillion, a P/E ratio of 22.74, a PEG ratio of 1.20 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a 50 day simple moving average of $168.47 and a 200-day simple moving average of $170.31.

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, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Institutional Trading of Alphabet

A number of hedge funds have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC lifted its holdings in Alphabet by 15.3% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,763 shares of the information services provider’s stock worth $458,000 after buying an additional 366 shares during the period. American Trust raised its position in shares of Alphabet by 156.0% in the 3rd quarter. American Trust now owns 24,429 shares of the information services provider’s stock worth $4,052,000 after acquiring an additional 14,886 shares in the last quarter. Asset Advisors Investment Management LLC lifted its stake in shares of Alphabet by 1.3% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 126,306 shares of the information services provider’s stock worth $20,948,000 after purchasing an additional 1,574 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in Alphabet by 226.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 236,632 shares of the information services provider’s stock valued at $39,245,000 after purchasing an additional 164,194 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new stake in Alphabet during the third quarter valued at about $6,673,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on GOOGL shares. Truist Financial boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

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.