Alphabet (NASDAQ:GOOG) Shares Down 0.1%

Alphabet Inc. (NASDAQ:GOOG)’s stock price dropped 0.1% on Tuesday . The stock traded as low as $167.35 and last traded at $167.77. Approximately 9,049,437 shares traded hands during trading, a decline of 60% from the average daily volume of 22,632,387 shares. The stock had previously closed at $167.90.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $165.67.

Alphabet Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The business’s fifty day simple moving average is $149.64 and its 200 day simple moving average is $142.97.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. Research analysts predict that Alphabet Inc. will post 6.8 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,209 shares of company stock valued at $36,711,144. Insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its position in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Capital International Investors boosted its stake in Alphabet by 1.1% during the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares during the period. Northern Trust Corp boosted its stake in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares during the period. Finally, Norges Bank acquired a new position in Alphabet during the 4th quarter valued at about $4,101,040,000. Institutional investors own 27.26% 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.