Alphabet Inc. (NASDAQ:GOOG) Director Sells $19,827.31 in Stock

Key Points

• Frances Arnold, Director of Alphabet Inc., sold 101 shares at an average price of $196.31, totaling approximately $19,827.31, and now owns 17,490 shares in the company.
• Alphabet reported a quarterly earnings of $2.31 EPS, surpassing estimates by $0.19, with revenues of $96.43 billion, a 13.8% increase from the previous year.
• The company announced a quarterly dividend of $0.21 per share, payable on September 15, reflecting an annualized dividend yield of 0.4%.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) Director Frances Arnold sold 101 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $196.31, for a total transaction of $19,827.31. Following the completion of the sale, the director owned 17,490 shares in the company, valued at $3,433,461.90. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 30th, Frances Arnold sold 121 shares of Alphabet stock. The shares were sold at an average price of $180.72, for a total value of $21,867.12.
• On Friday, May 30th, Frances Arnold sold 111 shares of Alphabet stock. The shares were sold at an average price of $172.41, for a total value of $19,137.51.

Alphabet Stock Down 1.5%

NASDAQ:GOOG traded down $2.91 during trading hours on Friday, reaching $189.95. 21,211,425 shares of the stock were exchanged, compared to its average volume of 25,077,368. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50 day moving average of $179.37 and a 200 day moving average of $174.53. The stock has a market cap of $2.31 trillion, a PE ratio of 20.23, a PEG ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently added to or reduced their stakes in the business. ACT Advisors LLC. grew its stake in Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock worth $288,000 after buying an additional 55 shares during the last quarter. Moser Wealth Advisors LLC grew its stake in Alphabet by 2.2% during the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider's stock worth $451,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management grew its stake in Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates grew its stake in Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after buying an additional 56 shares during the last quarter. Finally, Greenup Street Wealth Management LLC grew its stake in Alphabet by 0.5% during the 2nd quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider's stock worth $2,068,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet Company Profile

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.