Alphabet (NASDAQ:GOOG) Trading 1.5% Higher – Time to Buy?

Alphabet Inc. (NASDAQ:GOOG)’s share price was up 1.5% during mid-day trading on Monday . The stock traded as high as $170.61 and last traded at $169.48. 5,526,387 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 19,380,982 shares. The stock had previously closed at $166.99.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOG. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Oppenheimer dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Price Performance

The company’s 50-day simple moving average is $163.39 and its 200-day simple moving average is $170.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.27 and a beta of 1.04.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC lifted its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the 2nd quarter valued at about $37,000. HWG Holdings LP bought a new stake in Alphabet in the second quarter worth approximately $40,000. Slocum Gordon & Co LLP acquired a new position in Alphabet in the second quarter valued at approximately $44,000. Finally, Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds 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.