Alphabet (NASDAQ:GOOGL) Trading Down 0.1% - Here's What Happened

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report)'s stock price traded down 0.1% on Thursday . The stock traded as low as $161.05 and last traded at $162.69. 7,468,890 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 26,804,137 shares. The stock had previously closed at $162.78.

Analysts Set New Price Targets

Several research analysts have issued reports on GOOGL shares. Scotiabank upgraded Alphabet to a "strong-buy" rating in a report on Friday, October 11th. Mizuho raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. Jefferies Financial Group lifted their price target on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Roth Mkm reiterated a "buy" rating and set a $206.00 price target on shares of Alphabet in a report on Thursday, August 29th. Eight 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $201.76.

Alphabet Stock Down 0.0 %

The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.01 trillion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a fifty day simple moving average of $161.87 and a 200-day simple moving average of $168.40.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analysts' expectations of $70.60 billion. During the same quarter in the previous year, the company earned $1.44 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company's stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 in the last ninety days. Insiders own 11.55% of the company's stock.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $30,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter worth about $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after purchasing an additional 109 shares during the period. 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.