Alphabet (NASDAQ:GOOG) Shares Down 2.9%

Alphabet Inc. (NASDAQ:GOOG) fell 2.9% during mid-day trading on Thursday . The stock traded as low as $152.77 and last traded at $156.41. 10,398,082 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 21,879,102 shares. The stock had previously closed at $161.10.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Raymond James upped their price objective on shares of 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 target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus increased their price target 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $159.86.

Alphabet Price Performance

The firm’s 50 day moving average price is $148.20 and its two-hundred day moving average price is $142.40. The stock has a market cap of $1.96 trillion, a PE ratio of 26.97, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS 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 firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period last year, the company earned $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 6.79 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 in the last quarter. Company insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Institutional investors have recently bought and sold shares of the company. Intergy Private Wealth LLC increased its holdings in Alphabet by 1.9% in the 1st quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock worth $517,000 after buying an additional 63 shares in the last quarter. Smith Anglin Financial LLC grew its holdings in Alphabet by 2.0% during the first quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock valued at $491,000 after purchasing an additional 64 shares during the period. Fiduciary Alliance LLC lifted its position in shares of Alphabet by 1.4% during the 1st quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock valued at $762,000 after buying an additional 67 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in Alphabet by 0.8% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after acquiring an additional 68 shares in the last quarter. Finally, Cranbrook Wealth Management LLC lifted its holdings in Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after purchasing an additional 70 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other 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.