Alphabet (NASDAQ:GOOG) Trading Down 0.8%

Alphabet Inc. (NASDAQ:GOOG)’s share price was down 0.8% during mid-day trading on Friday . The stock traded as low as $165.88 and last traded at $167.82. Approximately 8,927,694 shares traded hands during trading, a decline of 57% from the average daily volume of 20,546,520 shares. The stock had previously closed at $169.16.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $177.50.

Alphabet Stock Performance

The stock’s 50 day moving average price is $180.74 and its 200 day moving average price is $161.58. The company has a current ratio of 2.08, a quick ratio of 2.15 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.09 trillion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the firm posted $1.44 earnings per share. Alphabet’s revenue was up 13.6% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,888 shares of company stock valued at $25,699,259. Company insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Large investors have recently bought and sold shares of the company. Courier Capital LLC lifted its stake in shares of Alphabet by 0.4% in the fourth quarter. Courier Capital LLC now owns 91,866 shares of the information services provider’s stock worth $12,947,000 after acquiring an additional 340 shares in the last quarter. Sterling Investment Management LLC raised its position in shares of Alphabet by 0.9% in the 4th quarter. Sterling Investment Management LLC now owns 14,006 shares of the information services provider’s stock valued at $1,974,000 after purchasing an additional 131 shares in the last quarter. First Pacific Financial boosted its stake in shares of Alphabet by 8.6% during the 4th quarter. First Pacific Financial now owns 8,301 shares of the information services provider’s stock valued at $1,170,000 after buying an additional 659 shares during the last quarter. Planned Solutions Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $602,000. Finally, First National Corp MA ADV increased its stake in shares of Alphabet by 1.1% in the fourth quarter. First National Corp MA ADV now owns 10,210 shares of the information services provider’s stock worth $1,439,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Company Profile

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