Frances Arnold Sells 441 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

On November 4th, Frances Arnold, a director at Alphabet Inc. (NASDAQ:GOOGL), sold 441 shares of the company's stock. The shares were sold at an average price of $171.06, totaling approximately $75,437.46 in value. After this transaction, Arnold now directly holds 16,490 shares of Alphabet, representing about $2,820,779.40 in current value. This transaction indicates a 0.00% decrease in her total ownership of the stock. The sale was reported in a filing with the Securities and Exchange Commission (SEC), providing transparency about the director's stake in the company.

Alphabet Stock Performance

On the same trading day, GOOGL stock experienced a decline of 1.2%, dropping $2.05 to reach $169.24. The trading volume for Alphabet shares was about 20,936,597, falling short of its average volume of over 27 million shares. Alphabet has a debt-to-equity ratio of 0.04, a current ratio of 1.95, and a quick ratio of 2.08. Over the past year, its stock has fluctuated between a low of $127.90 and a high of $191.75. Currently, the company's 50-day moving average price stands at $162.49, while its 200-day moving average is $169.20. Alphabet Inc. boasts a market capitalization of $2.08 trillion, a price-to-earnings (P/E) ratio of 22.45, and an earnings growth rate ratio of 1.23.

Recent Earnings and Financials

Alphabet recently announced its earnings on October 29th, where it reported earnings per share of $2.12 for the last quarter, surpassing the consensus estimate of $1.83 by $0.29. The company had a net margin of 27.74% and a return on equity of 31.66%. Revenue for the quarter was recorded at $88.27 billion, exceeding analysts' expectations of $72.85 billion. In the same quarter last year, Alphabet reported earnings of $1.55 per share. Analysts project that Alphabet will achieve approximately $7.91 earnings per share for the current fiscal year.

Upcoming Dividend Announcement

In addition to the earnings results, Alphabet recently declared a quarterly dividend of $0.20 per share, which will be distributed to shareholders on December 16th. Shareholders who are on record by December 9th will be eligible for this dividend payout, marking an annualized dividend of $0.80 and a yield of 0.47%. Currently, Alphabet's dividend payout ratio stands at 10.61%.

Analysts' Forecasts and Ratings

Research analysts have provided various opinions on the prospects of GOOGL stock. UBS Group raised their price target from $200 to $204 while maintaining a “neutral” rating. Tigress Financial increased their target from $210 to $220, declaring a “strong-buy.” Seaport Res upgraded Alphabet's stock from a “hold” to a “strong-buy” rating. Piper Sandler reaffirmed an “overweight” rating, adjusting their price target from $200 to $210. Meanwhile, Goldman Sachs lowered their target price from $217 to $208, labeling it a “buy.” Current ratings for Alphabet show seven analysts with a hold recommendation, thirty-one advising to buy, and four labeling it as a strong buy, resulting in a consensus rating of “Moderate Buy” with an average price target of $205.51.

Institutional Investment Trends

Several hedge funds have also adjusted their positions in Alphabet stock. Jaffetilchin Investment Partners increased their ownership by 11.1%, while Core Wealth Partners grew their stake by 10.4%. GDS Wealth Management raised their holdings by 3.0%, and TRU Independence Asset Management bought new shares in the recent quarter. Additionally, Catalytic Wealth Holdings boosted their position by 22.2%. Currently, institutional investors and hedge funds own approximately 40.03% of Alphabet shares.

About Alphabet Inc.

Alphabet Inc. is a multinational conglomerate that offers a range of products and services across various regions, including the United States, Europe, and Asia. Its main segments include Google Services, Google Cloud, and Other Bets, catering to diverse sectors such as advertising, mobile operating systems, search engines, and more.

Frances, Arnold, Alphabet