Alphabet (NASDAQ:GOOG) Stock Price Down 0.2% After Insider Selling

Alphabet Inc. (NASDAQ:GOOGGet Free Report) shares dropped 0.2% during trading on Wednesday following insider selling activity. The company traded as low as $154.13 and last traded at $155.59. Approximately 4,924,797 shares traded hands during trading, a decline of 78% from the average daily volume of 22,777,256 shares. The stock had previously closed at $155.87.

Specifically, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the completion of the sale, the director now directly owns 6,784 shares of the company’s stock, valued at $973,436.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the sale, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at $341,163,148.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now directly owns 6,784 shares of the company’s stock, valued at $973,436.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,239 shares of company stock worth $32,432,382. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on GOOG

Alphabet Stock Down 0.2 %

The stock has a market capitalization of $1.93 trillion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The stock has a fifty day moving average price of $145.30 and a 200 day moving average price of $139.86. 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:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

Institutional Investors Weigh In On Alphabet

Several large investors have recently added to or reduced their stakes in GOOG. Totem Point Management LLC lifted its stake in Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the last quarter. Somerville Kurt F lifted its stake in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the last quarter. BCK Partners Inc. bought a new stake in Alphabet during the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. lifted its stake in Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after purchasing an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. lifted its stake in Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Company Profile

(Get Free Report)

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.

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