Alphabet (NASDAQ:GOOGL) Stock Price Down 0.2%

Alphabet Inc. (NASDAQ:GOOGL)’s share price fell 0.2% on Thursday . The stock traded as low as $150.17 and last traded at $150.54. 4,346,434 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 30,841,227 shares. The stock had previously closed at $150.87.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Rosenblatt Securities cut their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $155.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Wolfe Research upped their price objective on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Roth Mkm decreased their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Finally, Citigroup upped their price objective on Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $155.48.

Alphabet Stock Up 0.0 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business has a 50 day moving average price of $143.52 and a 200 day moving average price of $138.12. The firm has a market capitalization of $1.88 trillion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the business earned $1.05 earnings per share. On average, analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,088 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,378 shares of company stock valued at $35,461,377. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. FMR LLC boosted its position in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. State Street Corp raised its stake in shares of Alphabet by 0.8% during the second quarter. State Street Corp now owns 218,540,033 shares of the information services provider’s stock valued at $26,159,242,000 after acquiring an additional 1,666,205 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after acquiring an additional 170,267,122 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Alphabet by 2.3% during the second quarter. Geode Capital Management LLC now owns 121,308,289 shares of the information services provider’s stock worth $14,481,781,000 after buying an additional 2,731,671 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.