Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) shares dropped 1.3% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $156.82 and last traded at $157.04. Approximately 7,321,344 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 28,143,307 shares. The stock had previously closed at $159.07.
Specifically, Director John L. Hennessy sold 200 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now directly owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on GOOGL shares. Wells Fargo & Company decreased their price objective on Alphabet from $184.00 to $167.00 and set an "equal weight" rating on the stock in a report on Monday, March 31st. Wedbush set a $190.00 price objective on Alphabet and gave the company an "outperform" rating in a research report on Tuesday. Westpark Capital upgraded Alphabet to a "strong-buy" rating in a report on Tuesday, April 1st. Citigroup dropped their price target on Alphabet from $229.00 to $195.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, JMP Securities reissued a "market perform" rating on shares of Alphabet in a research report on Thursday, April 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $200.74.
Read Our Latest Stock Report on Alphabet
Alphabet Trading Down 1.5 %
The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $165.14 and a 200 day moving average of $175.77. The firm has a market cap of $1.84 trillion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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 return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. Alphabet's dividend payout ratio is currently 9.94%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of GOOGL. Compass Planning Associates Inc bought a new position in shares of Alphabet in the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. raised its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $39,000. PayPay Securities Corp boosted its stake in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Denver PWM LLC grew its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after acquiring an additional 57 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
About Alphabet
(
Get Free Report)
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.
Featured Articles
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
