Frances Arnold Sells 240 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Posted by Defense World Staff on Jun 2nd, 2023

Alphabet Inc. (NASDAQ:GOOG – Get Rating) Director Frances Arnold sold 240 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $123.73, for a total value of $29,695.20. Following the completion of the transaction, the director now owns 12,800 shares in the company, valued at approximately $1,583,744. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

On Thursday, May 25th, Frances Arnold sold 950 shares of Alphabet stock. The shares were sold at an average price of $125.25, for a total value of $118,987.50.

Alphabet Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $127.05. The firm has a 50-day moving average of $111.31 and a two-hundred day moving average of $100.83. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 27.48, a P/E/G ratio of 1.57 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. During the same period in the prior year, the business earned $1.23 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current year.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently added to or reduced their stakes in the business. DC Investments Management LLC acquired a new position in Alphabet in the first quarter valued at $115,000. Guardian Wealth Management Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $184,000. Turim 21 Investimentos Ltda. lifted its stake in shares of Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new position in shares of Alphabet in the 1st quarter valued at about $279,000. Finally, Wayfinding Financial LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $294,000. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Oppenheimer cut their price target on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Raymond James lifted their price target on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Sanford C. Bernstein set a $130.00 target price on Alphabet in a report on Monday, February 6th. Credit Suisse Group set a $136.00 target price on Alphabet in a report on Friday, February 3rd. Finally, Jefferies Financial Group set a $125.00 target price on Alphabet in a report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.80.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.