Alphabet (NASDAQ:GOOG) Trading Down 0.5%

Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.5% during trading on Wednesday . The company traded as low as $150.76 and last traded at $150.99. 4,579,801 shares were traded during mid-day trading, a decline of 80% from the average session volume of 22,956,039 shares. The stock had previously closed at $151.70.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $146.33.

Alphabet Trading Down 0.7 %

The firm has a market capitalization of $1.87 trillion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $144.41 and its 200-day simple moving average is $139.20.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. Analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 28,281 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $141.40, for a total value of $3,998,933.40. Following the completion of the transaction, the insider now owns 25,002 shares of the company’s stock, valued at approximately $3,535,282.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider John Kent Walker sold 28,281 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $141.40, for a total transaction of $3,998,933.40. Following the completion of the sale, the insider now owns 25,002 shares of the company’s stock, valued at approximately $3,535,282.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the sale, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders have sold a total of 279,659 shares of company stock worth $39,460,310 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Advisors Network Inc. increased its holdings in Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. increased its holdings in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares in the last quarter. West Michigan Advisors LLC increased its holdings in Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after acquiring an additional 9 shares in the last quarter. Somerville Kurt F increased its holdings in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC increased its holdings in Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after acquiring an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 27.26% 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.