Alphabet (NASDAQ:GOOG) Hits New 1-Year Low at $2,212.00

Alphabet Inc. (NASDAQ:GOOGGet Rating)’s share price reached a new 52-week low on Thursday . The stock traded as low as $2,212.00 and last traded at $2,213.00, with a volume of 65681 shares changing hands. The stock had previously closed at $2,279.22.

GOOG has been the topic of several research reports. Canaccord Genuity Group upped their target price on Alphabet from $3,350.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, February 2nd. Jefferies Financial Group upped their target price on Alphabet from $3,500.00 to $3,600.00 and gave the company a “buy” rating in a report on Wednesday, February 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Alphabet from $3,150.00 to $2,900.00 in a research note on Wednesday, April 27th. Canaccord Genuity Group decreased their price objective on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research note on Wednesday, April 27th. Finally, Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. One research analyst has rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average price target of $3,308.77.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 21.08, a P/E/G ratio of 1.06 and a beta of 1.13. The stock has a fifty day moving average price of $2,579.69 and a two-hundred day moving average price of $2,740.59.

Alphabet shares are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be issued to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company earned $26.29 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 112.62 earnings per share for the current fiscal year.

In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were bought at an average price of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the purchase, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The disclosure for this purchase can be found here. Insiders sold a total of 573,715 shares of company stock valued at $84,154,881 over the last quarter. Company insiders own 12.99% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Pictet & Cie SA grew its stake in Alphabet by 0.7% during the 3rd quarter. Banque Pictet & Cie SA now owns 181,454 shares of the information services provider’s stock worth $483,631,000 after buying an additional 1,270 shares during the last quarter. California Public Employees Retirement System grew its stake in Alphabet by 8.3% during the 3rd quarter. California Public Employees Retirement System now owns 695,438 shares of the information services provider’s stock worth $1,853,558,000 after buying an additional 53,399 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alphabet by 1.0% in the third quarter. Geode Capital Management LLC now owns 4,572,016 shares of the information services provider’s stock worth $12,150,147,000 after purchasing an additional 43,722 shares in the last quarter. Pacific Sun Financial Corp grew its stake in shares of Alphabet by 5.1% in the fourth quarter. Pacific Sun Financial Corp now owns 166 shares of the information services provider’s stock worth $480,000 after purchasing an additional 8 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in shares of Alphabet by 155.4% in the third quarter. Valley National Advisers Inc. now owns 189 shares of the information services provider’s stock worth $505,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 31.20% of the company’s stock.

Alphabet Company Profile (NASDAQ:GOOG)

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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