Insider Selling: Alphabet Inc. (NASDAQ:GOOG) Director Sells 950 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG – Get Rating) Director Frances Arnold sold 950 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $125.25, for a total value of $118,987.50. Following the completion of the sale, the director now owns 13,040 shares in the company, valued at approximately $1,633,260. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Alphabet Stock Performance

Alphabet stock traded up $1.08 during mid-day trading on Friday, reaching $125.43. 25,049,228 shares of the company’s stock were exchanged, compared to its average volume of 29,895,625. The business’s fifty day simple moving average is $109.26 and its 200 day simple moving average is $99.67. The firm has a market capitalization of $1.59 trillion, a PE ratio of 27.53, a P/E/G ratio of 1.55 and a beta of 1.10. Alphabet Inc. has a one year low of $83.45 and a one year high of $127.05. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Bank of America upped their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Oppenheimer decreased their price objective on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Royal Bank of Canada set a $130.00 target price on Alphabet in a report on Friday, February 3rd. Finally, The Goldman Sachs Group set a $128.00 target price on Alphabet in a report on Friday, February 3rd. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $132.80.

Institutional Trading of Alphabet

Large investors have recently bought and sold shares of the company. Westchester Capital Management Inc. lifted its position in shares of Alphabet by 1,900.0% during the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares in the last quarter. Corrado Advisors LLC bought a new position in shares of Alphabet in the fourth quarter worth $27,000. Saban Cheryl increased its holdings in shares of Alphabet by 1,900.0% in the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after purchasing an additional 190 shares during the period. Gould Capital LLC increased its holdings in shares of Alphabet by 2,150.0% in the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after purchasing an additional 301 shares during the period. Finally, Essex Investment Management Co. LLC increased its holdings in shares of Alphabet by 1,900.0% in the third quarter. Essex Investment Management Co. LLC now owns 320 shares of the information services provider’s stock worth $31,000 after purchasing an additional 304 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.

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.