Alphabet Inc. (NASDAQ:GOOG - Get Free Report) was down 2.4% during mid-day trading on Monday following insider selling activity. The company traded as low as $148.97 and last traded at $149.64. Approximately 3,751,669 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 21,143,979 shares. The stock had previously closed at $153.36.
Specifically, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the transaction, the chief executive officer now directly owns 2,685,196 shares of the company's stock, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Analyst Upgrades and Downgrades
GOOG has been the topic of several research reports. Westpark Capital assumed coverage on Alphabet in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target on the stock. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. KeyCorp dropped their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.38.
Read Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
The business has a fifty day simple moving average of $165.19 and a two-hundred day simple moving average of $177.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.97 trillion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.77. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet's payout ratio is presently 9.94%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC boosted its holdings in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Alphabet in the fourth quarter valued at $1,551,533,000. Northern Trust Corp boosted its stake in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC increased its position in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
About Alphabet
(
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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.
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