Alphabet (NASDAQ:GOOGL) Stock Price Down 1.3%

Alphabet Inc. (NASDAQ:GOOGL)’s share price was down 1.3% on Wednesday . The company traded as low as $175.48 and last traded at $175.51. Approximately 5,428,954 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 29,786,996 shares. The stock had previously closed at $177.85.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Roth Mkm boosted their target price on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. Piper Sandler restated an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Argus lifted their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird increased their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Evercore ISI boosted their target price on shares of Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Price Performance

The firm has a market capitalization of $2.17 trillion, a PE ratio of 26.62, a P/E/G ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The business’s 50 day moving average is $160.13 and its two-hundred day moving average is $146.39.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the business posted $1.17 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock worth $31,178,987 in the last ninety days. 11.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the 4th quarter valued at about $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Meritage Group LP increased its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 59.2% in the 1st 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. 40.03% of the stock is currently owned by institutional investors.

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.