Alphabet (NASDAQ:GOOG) Stock Price Up 0.1%

Alphabet Inc. (NASDAQ:GOOG) rose 0.1% during mid-day trading on Wednesday . The company traded as high as $160.73 and last traded at $160.02. Approximately 5,298,795 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 21,857,717 shares. The stock had previously closed at $159.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Susquehanna raised 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. Finally, Raymond James boosted their target price 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. Six investment 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 Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a 50 day moving average price of $148.48 and a two-hundred day moving average price of $142.51. The company has a market capitalization of $1.96 trillion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $1.05 EPS. On average, research analysts expect that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. 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 three months. Corporate insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $26,000. Bruce G. Allen Investments LLC bought a new position in Alphabet during the fourth quarter worth about $26,000. Tandem Wealth Advisors LLC acquired a new position in Alphabet in the third quarter valued at about $25,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $32,000. Institutional investors and hedge funds 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.