Alphabet (NASDAQ:GOOG) Stock Price Down 0.7%

Alphabet Inc. (NASDAQ:GOOG)’s stock price fell 0.7% during mid-day trading on Wednesday . The stock traded as low as $170.52 and last traded at $171.70. 3,657,759 shares were traded during mid-day trading, a decline of 84% from the average session volume of 22,516,775 shares. The stock had previously closed at $172.98.

Wall Street Analyst Weigh In

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

Alphabet Trading Down 1.1 %

The stock has a market capitalization of $2.12 trillion, a P/E ratio of 26.33, a PEG ratio of 1.26 and a beta of 1.02. The stock’s fifty day moving average price is $152.74 and its 200 day moving average price is $144.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

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

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was 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 directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,629 shares of company stock valued at $37,091,240. 12.99% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Several hedge funds have recently modified their holdings of GOOG. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new stake in Alphabet in the fourth quarter worth about $26,000. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $28,000. Finally, Buck Wealth Strategies LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

About Alphabet

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.