Alphabet (NASDAQ:GOOGL) Shares Down 0.7% – Here’s Why

Alphabet Inc. (NASDAQ:GOOGL) shares traded down 0.7% during trading on Monday . The stock traded as low as $200.10 and last traded at $202.64. 9,430,375 shares traded hands during trading, a decline of 61% from the average session volume of 24,200,850 shares. The stock had previously closed at $204.02.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Loop Capital boosted their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, DA Davidson lifted their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

Alphabet Stock Down 0.9 %

The firm has a 50 day moving average of $188.97 and a two-hundred day moving average of $174.03. The stock has a market capitalization of $2.47 trillion, a PE ratio of 26.83, a P/E/G ratio of 1.31 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,189 shares of company stock valued at $22,182,696 over the last three months. 11.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Blackston Financial Advisory Group LLC boosted its position in Alphabet by 9.5% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 7,365 shares of the information services provider’s stock worth $1,394,000 after purchasing an additional 640 shares during the period. Bank of Stockton lifted its stake in shares of Alphabet by 1.3% during the fourth quarter. Bank of Stockton now owns 31,199 shares of the information services provider’s stock worth $5,906,000 after purchasing an additional 386 shares in the last quarter. Lane & Associates LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $215,000. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter valued at about $30,000. Finally, Paradigm Asset Management Co. LLC raised its holdings in shares of Alphabet by 18.1% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 24,110 shares of the information services provider’s stock valued at $4,564,000 after buying an additional 3,700 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.