Alphabet (NASDAQ:GOOG) Shares Up 0% – Time to Buy?

Alphabet Inc. (NASDAQ:GOOG) was up 0% during trading on Thursday . The company traded as high as $164.94 and last traded at $164.50. Approximately 4,112,975 shares traded hands during trading, a decline of 79% from the average daily volume of 19,429,613 shares. The stock had previously closed at $164.48.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Oppenheimer reduced their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, UBS Group lowered their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Stock Performance

The stock’s 50-day moving average is $163.28 and its 200-day moving average is $169.92. 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 stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’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 transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several large investors have recently modified their holdings of the business. Abich Financial Wealth Management LLC raised its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP bought a new position in shares of Alphabet during the second quarter worth about $40,000. Slocum Gordon & Co LLP acquired a new position in Alphabet in the second quarter worth about $44,000. Finally, Hoese & Co LLP increased its holdings in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during 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.