Alphabet (NASDAQ:GOOG) Trading Down 0.2%

Alphabet Inc. (NASDAQ:GOOG)’s stock price fell 0.2% during mid-day trading on Thursday . The company traded as low as $151.33 and last traded at $151.70. 3,372,420 shares were traded during trading, a decline of 85% from the average session volume of 22,835,184 shares. The stock had previously closed at $151.94.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOG. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James upped their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $146.33.

Alphabet Stock Up 0.2 %

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 company has a fifty day simple moving average of $144.75 and a 200 day simple moving average of $139.39. The firm has a market capitalization of $1.89 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,088 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the sale, the senior vice president now owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,088 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the sale, the senior vice president now owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 251,378 shares of company stock valued at $35,461,377 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several institutional investors and hedge funds have recently modified their holdings of GOOG. Totem Point Management LLC increased its stake in Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F boosted its holdings in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the last quarter. BCK Partners Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $2,564,000. Hall Capital Management Co. Inc. boosted its holdings in shares of Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after purchasing an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. boosted its holdings in shares of Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares during 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.