Alphabet (NASDAQ:GOOG) Stock Price Down 0.2% on Insider Selling

Alphabet Inc. (NASDAQ:GOOG) fell 0.2% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $185.38 and last traded at $186.16. 2,188,810 shares were traded during mid-day trading, a decline of 90% from the average session volume of 21,019,246 shares. The stock had previously closed at $186.61.

Specifically, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders sold a total of 146,288 shares of company stock valued at $25,345,053 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Trading Up 0.4 %

The firm has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The business’s fifty day moving average is $175.99 and its 200 day moving average is $156.79. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the company posted $1.17 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Partnership Wealth Management LLC bought a new stake in Alphabet during the fourth quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new stake in Alphabet in the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in Alphabet in the fourth quarter valued at approximately $34,000. 27.26% of the stock is currently owned by institutional investors.

About Alphabet

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.