Alphabet (NASDAQ:GOOG) Director Sells $25,042.39 in Stock

Key Points

• Alphabet Director Frances Arnold sold 103 shares for a total of $25,042.39, reducing her ownership by 0.59% and leaving her with approximately 17,284 shares valued around $4.2 million.
• Alphabet reported a 13.8% increase in revenue year-over-year for the last quarter, with an EPS of $2.31 that beat analysts' expectations.
• The company recently declared a quarterly dividend of $0.21 per share, marking an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director directly owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, August 28th, Frances Arnold sold 102 shares of Alphabet stock. The stock was sold at an average price of $207.80, for a total value of $21,195.60.

Alphabet Trading Down 0.3%

Alphabet stock traded down $0.81 during midday trading on Tuesday, reaching $243.55. 22,518,435 shares of the stock traded hands, compared to its average volume of 25,534,324. The company has a 50-day simple moving average of $218.70 and a two-hundred day simple moving average of $185.47. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The firm has a market cap of $2.95 trillion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the business posted $1.89 EPS. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOG shares. Barclays restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Robert W. Baird increased their price objective on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC lifted its position in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Norges Bank acquired a new position in Alphabet in the 2nd quarter valued at approximately $4,298,572,000. Nuveen LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $2,622,943,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Institutional investors and hedge funds own 27.26% 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.

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