Alphabet (NASDAQ:GOOG) Shares Down 0.2%

Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.2% during mid-day trading on Monday . The company traded as low as $167.89 and last traded at $168.61. 5,006,307 shares traded hands during trading, a decline of 78% from the average session volume of 22,630,572 shares. The stock had previously closed at $168.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Price Performance

The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The company’s 50-day moving average is $151.46 and its 200-day moving average is $143.74.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Insider Transactions at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the firm’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 transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Ruth Porat sold 48,077 shares of the firm’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 transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,129 shares of company stock valued at $40,382,765. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds have recently modified their holdings of the stock. Partnership Wealth Management LLC bought a new position in Alphabet in the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC bought a new position in Alphabet in the fourth quarter valued at approximately $26,000. Tandem Wealth Advisors LLC bought a new position in Alphabet in the third quarter valued at approximately $25,000. Equitec Proprietary Markets LLC bought a new position in Alphabet in the fourth quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors.

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.