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

Posted by Defense World Staff on Jun 2nd, 2023

Alphabet Inc. (NASDAQ:GOOGL – Get Rating) Director Frances Arnold sold 240 shares of Alphabet 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 directly owns 12,800 shares of the company’s stock, valued at $1,583,744. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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

Shares of GOOGL opened at $123.72 on Friday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $126.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The business’s 50 day moving average price is $110.70 and its two-hundred day moving average price is $100.27. The firm has a market cap of $1.57 trillion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter in the prior year, the company posted $1.23 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer boosted their price objective on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Morgan Stanley boosted their price objective on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Wolfe Research upped their price target on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Roth Mkm upped their price target on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Finally, Truist Financial upped their price target on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.51.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Golden State Equity Partners bought a new position in shares of Alphabet during the 1st quarter worth $3,850,000. Warther Private Wealth LLC grew its stake in shares of Alphabet by 15.7% during the 1st quarter. Warther Private Wealth LLC now owns 106,961 shares of the information services provider’s stock worth $11,095,000 after acquiring an additional 14,539 shares during the period. Fortis Group Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth about $597,000. Sheets Smith Wealth Management lifted its holdings in Alphabet by 1.1% during the 1st quarter. Sheets Smith Wealth Management now owns 11,722 shares of the information services provider’s stock worth $1,216,000 after purchasing an additional 122 shares in the last quarter. Finally, Empower Advisory Group LLC purchased a new stake in Alphabet during the 1st quarter worth about $10,083,000. Institutional investors own 34.06% of the company’s stock.

About Alphabet

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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.