Alphabet (NASDAQ:GOOGL) Stock Price Down 0.6% – What’s Next?

Alphabet Inc. (NASDAQ:GOOGL) shares traded down 0.6% on Tuesday . The company traded as low as $183.54 and last traded at $184.14. 8,753,546 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 27,029,359 shares. The stock had previously closed at $185.23.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GOOGL shares. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Wedbush upped their price target on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Bank of America reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Finally, Truist Financial raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Trading Down 0.4 %

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.25 trillion, a P/E ratio of 22.93, a PEG ratio of 1.34 and a beta of 0.99. The firm’s fifty day moving average is $192.81 and its two-hundred day moving average is $175.49.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,609 shares of company stock worth $21,809,990. Company insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently bought and sold shares of GOOGL. Compass Planning Associates Inc purchased a new stake in Alphabet in the 4th quarter worth $30,000. LMR Partners LLP purchased a new stake in shares of Alphabet in the third quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp increased its position in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.