Alphabet (NASDAQ:GOOGL) Stock Price Down 0.2%

Alphabet Inc. (NASDAQ:GOOGL) shares dropped 0.2% during trading on Tuesday . The company traded as low as $160.76 and last traded at $161.55. Approximately 5,034,151 shares traded hands during trading, a decline of 82% from the average daily volume of 27,586,813 shares. The stock had previously closed at $161.85.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Piper Sandler lowered their price target on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Wells Fargo & Company raised their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Monday. Finally, Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Stock Up 0.3 %

The firm has a market cap of $2.01 trillion, a P/E ratio of 24.78, a P/E/G ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average is $164.23 and its 200 day moving average is $165.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold a total of 180,167 shares of company stock worth $29,762,606 over the last 90 days. Insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds have recently modified their holdings of the stock. Nebula Research & Development LLC bought a new stake in Alphabet in the 4th quarter worth about $787,000. New Hampshire Trust increased its position in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP lifted its holdings in Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the period. Finally, Johnson Financial Group Inc. boosted its position in Alphabet by 14.5% in the fourth quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock worth $3,046,000 after purchasing an additional 2,763 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

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.