Alphabet (NASDAQ:GOOGL) Shares Up 0% – Still a Buy?

Alphabet Inc. (NASDAQ:GOOGL)’s share price rose 0% during mid-day trading on Monday . The company traded as high as $164.50 and last traded at $163.49. Approximately 1,745,245 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 26,905,807 shares. The stock had previously closed at $163.42.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Loop Capital reaffirmed a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Wolfe Research started coverage on Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Jefferies Financial Group raised their price objective on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. JMP Securities restated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Finally, DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Performance

The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock’s 50-day simple moving average is $161.82 and its two-hundred day simple moving average is $168.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the previous year, the business posted $1.44 earnings per share. Analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,426 shares of company stock worth $35,993,340. Insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Capital World Investors raised its holdings in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after buying an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Institutional investors and hedge funds own 40.03% 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.