Alphabet (NASDAQ:GOOG) Stock Price Down 1% After Insider Selling

Alphabet Inc. (NASDAQ:GOOG) was down 1% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $164.94 and last traded at $165.11. Approximately 3,330,577 shares were traded during trading, a decline of 83% from the average daily volume of 19,586,945 shares. The stock had previously closed at $166.74.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GOOG shares. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Pivotal Research assumed coverage on shares of Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price for the company. Finally, TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Trading Down 1.3 %

The stock has a market cap of $2.03 trillion, a P/E ratio of 25.23, a PEG ratio of 1.21 and a beta of 1.04. 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 business’s 50 day simple moving average is $163.18 and its 200 day simple moving average is $169.52.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Institutional Trading of Alphabet

Several hedge funds have recently modified their holdings of the company. Twelve Points Wealth Management LLC increased its holdings in shares of Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after buying an additional 55 shares in the last quarter. PCG Wealth Advisors LLC increased its holdings in shares of Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after buying an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its holdings in shares of Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV increased its holdings in shares of Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after buying an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in shares of Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds 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.