Alphabet (NASDAQ:GOOG) Stock Price Down 0.1% on Insider Selling

Alphabet Inc. (NASDAQ:GOOG)’s stock price was down 0.1% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $172.53 and last traded at $172.79. Approximately 4,628,239 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 19,482,955 shares. The stock had previously closed at $172.98.

Specifically, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOOG. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Performance

The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $169.98 and a 200 day moving average price of $171.82. The firm has a market capitalization of $2.12 trillion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Institutional Investors Weigh In On Alphabet

Large investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP purchased a new position in Alphabet in the third quarter valued at $25,000. Abich Financial Wealth Management LLC raised its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at about $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the 2nd quarter valued at about $37,000. Finally, HWG Holdings LP purchased a new stake in shares of Alphabet during the second quarter worth approximately $40,000. 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.