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

Alphabet Inc. (NASDAQ:GOOG) Director Frances Arnold sold 111 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.98, for a total transaction of $18,867.78. Following the completion of the transaction, the director now directly owns 16,599 shares of the company’s stock, valued at $2,821,498.02. This trade represents a 0.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 Stock Performance

NASDAQ GOOG opened at $173.02 on Wednesday. The company has a fifty day simple moving average of $170.37 and a 200 day simple moving average of $171.78. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.12 trillion, a P/E ratio of 22.95, a PEG ratio of 1.21 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm posted $1.55 EPS. Alphabet’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Hedge Funds Weigh In On Alphabet

Several large investors have recently bought and sold shares of the stock. Twelve Points Wealth Management LLC lifted its stake in Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after acquiring an additional 55 shares in the last quarter. PCG Wealth Advisors LLC lifted its stake in Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after acquiring an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its stake in shares of Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after purchasing an additional 57 shares during the period. Advisors Management Group Inc. ADV raised its stake in shares of Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Finally, Shira Ridge Wealth Management raised its stake in shares of Alphabet by 0.4% during the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is currently owned by institutional investors.

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.