Alphabet (NASDAQ:GOOG) Shares Down 1% on Insider Selling

Shares of Alphabet Inc. (NASDAQ:GOOG - Get Free Report) were down 1% on Thursday following insider selling activity. The company traded as low as $164.94 and last traded at $165.11. Approximately 3,330,577 shares changed hands during trading, a decline of 83% from the average daily volume of 19,586,945 shares. The stock had previously closed at $166.74.

Specifically, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company's stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the transaction, the director now owns 26,324 shares of the company's stock, valued at approximately $4,342,143.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CAO Amie Thuener O'toole sold 2,834 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,406,343.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOG shares. UBS Group cut their target price on shares of Alphabet from $204.00 to $187.00 and set a "neutral" rating on the stock in a research note on Monday, October 7th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Wednesday, July 10th. Oppenheimer lowered their price objective on shares of Alphabet from $210.00 to $185.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 25th. Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They issued a "sector outperform" rating and a $212.00 target price on the stock. Finally, Pivotal Research initiated coverage on Alphabet in a report on Tuesday, October 1st. They set a "buy" rating and a $215.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $186.90.

Alphabet Stock Down 1.3 %

The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm's fifty day moving average is $163.17 and its 200 day moving average is $169.55. The stock has a market cap of $2.03 trillion, a P/E ratio of 25.32, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm's revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Hedge Funds Weigh In On Alphabet

Several large investors have recently bought and sold shares of GOOG. Emprise Bank acquired a new stake in Alphabet during the first quarter worth $1,756,000. Rowlandmiller & PARTNERS.ADV increased its stake in Alphabet by 1.5% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 83,575 shares of the information services provider's stock valued at $12,725,000 after acquiring an additional 1,219 shares during the period. CJM Wealth Advisers Ltd. raised its position in Alphabet by 2.2% in the first quarter. CJM Wealth Advisers Ltd. now owns 6,550 shares of the information services provider's stock worth $997,000 after purchasing an additional 140 shares in the last quarter. Abner Herrman & Brock LLC bought a new position in Alphabet during the first quarter worth about $18,675,000. Finally, Rise Advisors LLC boosted its holdings in Alphabet by 159.7% during the first quarter. Rise Advisors LLC now owns 8,357 shares of the information services provider's stock valued at $1,272,000 after purchasing an additional 5,139 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

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.