Alphabet (NASDAQ:GOOGL) Sets New 12-Month Low at $2,196.49

Alphabet Inc. (NASDAQ:GOOGLGet Rating)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $2,196.49 and last traded at $2,256.88, with a volume of 2676265 shares. The stock had previously closed at $2,272.05.

A number of equities analysts recently commented on the stock. Rosenblatt Securities assumed coverage on shares of Alphabet in a research report on Tuesday, April 19th. They set a “buy” rating and a $4,183.00 price target on the stock. Sanford C. Bernstein raised their price target on shares of Alphabet from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 2nd. MKM Partners lowered their price target on shares of Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Bank of America raised their price target on shares of Alphabet from $3,470.00 to $3,510.00 and gave the stock a “buy” rating in a research report on Wednesday, February 2nd. Finally, Truist Financial lowered their price target on shares of Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Four analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $3,314.08.

The firm’s 50 day moving average price is $2,570.32 and its two-hundred day moving average price is $2,733.56. The company has a market cap of $1.53 trillion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87.

Alphabet’s stock is scheduled to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the prior year, the business posted $26.29 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 112.62 EPS for the current fiscal year.

In other Alphabet news, Director Brin Sergey sold 2,639 shares of Alphabet stock in a transaction on Monday, April 11th. The shares were sold at an average price of $2,632.28, for a total transaction of $6,946,586.92. Following the transaction, the director now directly owns 18,599,842 shares of the company’s stock, valued at approximately $48,959,992,099.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 490 shares of Alphabet stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the transaction, the senior vice president now directly owns 497 shares in the company, valued at $1,160,644.10. The disclosure for this sale can be found here. In the last three months, insiders sold 550,261 shares of company stock valued at $21,637,779. 13.20% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Morling Financial Advisors LLC bought a new stake in Alphabet in the 4th quarter valued at about $29,000. West Bancorporation Inc. bought a new stake in Alphabet in the 4th quarter valued at about $29,000. Dravo Bay LLC bought a new stake in Alphabet in the 1st quarter valued at about $28,000. Wealthgate Family Office LLC bought a new stake in Alphabet in the 4th quarter valued at about $32,000. Finally, NS Partners Ltd bought a new stake in Alphabet in the 4th quarter valued at about $41,000. 41.70% of the stock is currently owned by institutional investors.

About Alphabet (NASDAQ:GOOGL)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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