Alphabet (NASDAQ:GOOGL) Stock Price Down 0.1% on Insider Selling

Alphabet Inc. (NASDAQ:GOOGL) dropped 0.1% during trading on Tuesday following insider selling activity. The company traded as low as $164.65 and last traded at $165.63. Approximately 9,835,927 shares traded hands during trading, a decline of 64% from the average daily volume of 27,433,219 shares. The stock had previously closed at $165.85.

Specifically, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the transaction, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. TD Securities boosted their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Friday, August 30th. Argus lifted their price objective on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. Finally, Guggenheim upped their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.14.

Alphabet Trading Down 0.7 %

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 company’s fifty day moving average price is $162.08 and its two-hundred day moving average price is $167.01. The firm has a market cap of $2.05 trillion, a PE ratio of 25.44, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company earned $1.44 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet in the fourth quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter valued at $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter worth $36,000. Finally, Denver PWM LLC bought a new stake in shares of Alphabet in the 2nd quarter worth $41,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

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.