Alphabet (NASDAQ:GOOGL) Trading Down 0.1% – Time to Sell?

Alphabet Inc. (NASDAQ:GOOGL)’s stock price was down 0.1% during mid-day trading on Thursday . The stock traded as low as $161.05 and last traded at $162.69. 7,468,890 shares traded hands during 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

GOOGL has been the topic of a number of analyst reports. Evercore ISI lowered their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Mizuho upped their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their price objective on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Performance

The company has a market cap of $2.04 trillion, a PE ratio of 25.35, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm’s 50 day moving average is $161.95 and its 200-day moving average is $168.43.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the business posted $1.44 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. 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 ninety days, insiders sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc lifted 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 purchasing an additional 60 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter worth about $30,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in 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 last quarter. 40.03% of the stock is 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.