Alphabet (NASDAQ:GOOGL) Stock Price Down 1% on Insider Selling

Alphabet Inc. (NASDAQ:GOOGL) shares traded down 1% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $163.32 and last traded at $163.57. 4,753,406 shares were traded during trading, a decline of 82% from the average session volume of 26,974,805 shares. The stock had previously closed at $165.16.

Specifically, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now owns 26,324 shares in the company, valued at approximately $4,342,143.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOGL shares. Royal Bank of Canada boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. The Goldman Sachs Group dropped their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday. Finally, Tigress Financial lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Down 1.4 %

The business’s 50 day moving average is $161.77 and its 200-day moving average is $168.01. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.21 and a beta of 1.04. 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 announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm posted $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Tributary Capital Management LLC purchased a new stake in Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 59.2% in the 1st 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. Hedge funds and other 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.