U.S. stocks steady; Cook’s dismissal, Nvidia earnings in spotlight
Frances (BCBA:BBARm) Arnold, a director at Alphabet Inc. (NASDAQ:GOOGL), recently sold 110 shares of the company’s Class C Capital Stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $200 each, totaling $22,000. The transaction comes as Alphabet trades near its 52-week high of $202.29, with InvestingPro data showing the company maintains a "GREAT" financial health score. Following this transaction, Arnold retains ownership of 16,819 shares of Alphabet’s Class C Capital Stock.
The filing also details Arnold’s holdings in Class C Google Stock Units, with a total of 3,821 units held across various vesting schedules. These stock units entitle Arnold to receive one share of Alphabet Class C Capital Stock for each unit as they vest, contingent upon continued service on the board. The reported sale was conducted under a Rule 10b5-1 Trading Plan, which was adopted on July 26, 2024.
In other recent news, Alphabet Inc. has been in the spotlight with several noteworthy developments. Bernstein analysts at SocGen Group and Oppenheimer have raised their price targets for Alphabet to $210 and $225 respectively, reflecting expectations for steady growth in Google Search and potential upside from other segments. Alphabet’s AI subsidiary, Waymo, has announced plans to expand its testing operations to 10 new cities by 2025, a move that could potentially lead to the launch of a commercial robotaxi service. This expansion could pose a significant challenge to ride-hailing giants Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT).
Meanwhile, Alphabet’s Google has launched Meridian, an open-source marketing mix model designed to assist marketers and data scientists in making intelligent, data-driven decisions. Despite potential challenges posed by DeepSeek, a Chinese AI company, and ongoing regulatory issues, analysts maintain a positive outlook on Alphabet’s growth potential. These are recent developments and should be considered by investors for their potential impact on Alphabet’s future performance.
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