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

Alphabet Inc. (NASDAQ:GOOG)’s share price was down 0.1% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $165.22 and last traded at $166.80. Approximately 2,166,332 shares were traded during trading, a decline of 89% from the average daily volume of 19,631,441 shares. The stock had previously closed at $166.90.

Specifically, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the transaction, the director now owns 26,324 shares in the company, valued at $4,342,143.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,406,343.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. UBS Group dropped their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Finally, Pivotal Research initiated coverage on shares of Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s fifty day simple moving average is $163.18 and its two-hundred day simple moving average is $169.52. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released 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 net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Institutional Trading of Alphabet

Several institutional investors have recently made changes to their positions in the company. Capital International Investors grew its stake in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Capital World Investors grew its stake in shares of Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after acquiring an additional 979,083 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after buying an additional 636,008 shares during the period. Institutional investors own 27.26% 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.