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

Shares of Alphabet Inc. (NASDAQ:GOOGL) fell 0.1% during trading on Monday after an insider sold shares in the company. The company traded as low as $178.91 and last traded at $179.53. 4,241,353 shares were traded during trading, a decline of 85% from the average session volume of 28,836,145 shares. The stock had previously closed at $179.63.

Specifically, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 158,458 shares of company stock valued at $26,375,053 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. Royal Bank of Canada lifted their price target on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. UBS Group increased their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Oppenheimer lifted their target price on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Evercore ISI raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.26.

Alphabet Trading Down 0.0 %

The company has a market capitalization of $2.22 trillion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. 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 company has a fifty day simple moving average of $170.05 and a two-hundred day simple moving average of $152.72.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the business earned $1.17 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $30,000. Tributary Capital Management LLC bought a new position in Alphabet during the first quarter worth about $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet during the fourth quarter worth $38,000. Meritage Group LP boosted its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in 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.