Alphabet (NASDAQ:GOOG) Trading Down 0.5%

Alphabet Inc. (NASDAQ:GOOG)’s share price dropped 0.5% on Wednesday . The company traded as low as $150.76 and last traded at $150.99. Approximately 4,579,801 shares traded hands during trading, a decline of 80% from the average daily volume of 22,956,039 shares. The stock had previously closed at $151.70.

Wall Street Analyst Weigh In

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

Alphabet Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a fifty day moving average price of $144.41 and a 200 day moving average price of $139.20. The firm has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same period last year, the business posted $1.05 EPS. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 16,088 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the transaction, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 425 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total transaction of $59,334.25. Following the transaction, the chief accounting officer now directly owns 27,259 shares in the company, valued at $3,805,628.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 16,088 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the transaction, the senior vice president now owns 52,440 shares in the company, valued at $7,294,404. The disclosure for this sale can be found here. Insiders sold 279,659 shares of company stock valued at $39,460,310 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several large investors have recently added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC lifted its position in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Alphabet by 1,807.4% in the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after buying an additional 54,077,519 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter valued at about $3,059,614,000. Morgan Stanley grew its stake in shares of Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after buying an additional 19,612,974 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

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.