Frances Arnold Sells 102 Shares of Alphabet (NASDAQ:GOOGL) Stock

Key Points

• Frances Arnold, a director at Alphabet Inc., sold 102 shares of the company's stock at an average price of $207.80, totaling approximately $21,195.60, while still maintaining ownership of 17,387 shares valued at about $3.61 million.
• Alphabet reported $2.31 EPS for the last quarter, surpassing analyst expectations, with quarterly revenue of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, which will be paid on September 15th, reflecting an annualized yield of 0.4%.

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) Director Frances Arnold sold 102 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $207.80, for a total transaction of $21,195.60. Following the transaction, the director owned 17,387 shares of the company's stock, valued at $3,613,018.60. The trade was a 0.58% decrease in their position. The sale 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 Monday, June 30th, Frances Arnold sold 101 shares of Alphabet stock. The shares were sold at an average price of $196.31, for a total value of $19,827.31.
• 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 transaction of $21,867.12.

Alphabet Stock Performance

NASDAQ GOOGL traded up $1.27 on Friday, reaching $212.91. The stock had a trading volume of 39,702,089 shares, compared to its average volume of 36,188,797. The firm has a fifty day moving average of $189.51 and a two-hundred day moving average of $173.92. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $214.65. The company has a market cap of $2.57 trillion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wedbush lifted their target price on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Roth Capital boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company upped their target price on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. DA Davidson lifted their price target on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley boosted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Companies Inc. bought a new position in shares of Alphabet in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.