Alphabet (NASDAQ:GOOGL) Director Frances Arnold Sells 112 Shares

Alphabet Inc. (NASDAQ:GOOGL) Director Frances Arnold sold 112 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, September 30th, Frances Arnold sold 103 shares of Alphabet stock. The shares were sold at an average price of $243.13, for a total value of $25,042.39.
• On Thursday, August 28th, Frances Arnold sold 102 shares of Alphabet stock. The shares were sold at an average price of $207.80, for a total value of $21,195.60.

Alphabet Stock Up 0.9%

GOOGL stock traded up $2.53 during midday trading on Monday, reaching $283.72. 28,677,316 shares of the company’s stock traded hands, compared to its average volume of 36,001,520. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.86 and a beta of 1.00. The firm’s fifty day moving average price is $244.00 and its 200-day moving average price is $200.31. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BMO Capital Markets set a $294.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Thursday, October 9th. Evercore ISI upped their price target on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday. KeyCorp reissued an “overweight” rating and issued a $300.00 price target (up from $265.00) on shares of Alphabet in a research report on Monday, October 27th. CIBC increased their price target on Alphabet to $315.00 in a research report on Monday, October 20th. Finally, Citizens Jmp increased their price target on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.20.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in Alphabet in the second quarter valued at about $31,000. 40.03% of the stock is owned by institutional investors.

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.