Insider Selling: Alphabet Inc. (NASDAQ:GOOG) Director Sells $31,178.80 in Stock

Alphabet Inc. (NASDAQ:GOOG) Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $135.56, for a total value of $31,178.80. Following the transaction, the director now directly owns 13,618 shares in the company, valued at approximately $1,846,056.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, July 28th, Frances Arnold sold 230 shares of Alphabet stock. The stock was sold at an average price of $130.95, for a total value of $30,118.50.
• On Thursday, June 29th, Frances Arnold sold 240 shares of Alphabet stock. The shares were sold at an average price of $120.02, for a total value of $28,804.80.

Alphabet Price Performance

GOOG stock opened at $136.80 on Monday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.72 trillion, a PE ratio of 28.98, a P/E/G ratio of 1.52 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $138.58. The business’s fifty day moving average price is $126.90 and its 200 day moving average price is $115.33.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the business earned $1.21 EPS. Alphabet’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.68 EPS for the current year.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Wedbush initiated coverage on Alphabet in a research report on Monday, August 21st. They set an “outperform” rating on the stock. Oppenheimer raised their price objective on Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Robert W. Baird raised their price target on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Finally, Susquehanna raised their price target on Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $132.00.

Institutional Investors Weigh In On Alphabet

Several large investors have recently bought and sold shares of GOOG. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Alphabet by 94,153.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 200,558,295 shares of the information services provider’s stock worth $24,261,537,000 after purchasing an additional 200,345,509 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after acquiring an additional 129,835,437 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Alphabet by 1,807.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock worth $5,487,226,000 after acquiring an additional 54,077,519 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth about $3,059,614,000. Finally, GQG Partners LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $2,170,024,000. Hedge funds and other institutional investors own 27.13% of the company’s stock.

About Alphabet

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.