Alphabet (NASDAQ:GOOGL) Stock Price Down 0.4%

Alphabet Inc. (NASDAQ:GOOGL)’s share price fell 0.4% on Thursday . The company traded as low as $175.41 and last traded at $175.60. 4,910,835 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 29,666,895 shares. The stock had previously closed at $176.38.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Tigress Financial upped their target price on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday. Wolfe Research upped their target price on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Finally, Rosenblatt Securities boosted their price target on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $191.57.

Alphabet Stock Performance

The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock’s 50-day simple moving average is $160.81 and its two-hundred day simple moving average is $146.70.

Alphabet (NASDAQ:GOOGL) last posted its 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 net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given 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 Buying and Selling

In other news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a 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 that occurred on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders have sold a total of 205,935 shares of company stock worth $31,178,987 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at approximately $15,441,917,000. FMR LLC lifted its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the last quarter. Capital Research Global Investors lifted its position in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. lifted its position in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

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.