Alphabet (NASDAQ:GOOGL) Trading Down 0.3% After Insider Selling

Alphabet Inc. (NASDAQ:GOOGL)’s share price was down 0.3% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $163.61 and last traded at $164.54. Approximately 5,929,644 shares changed hands during trading, a decline of 77% from the average daily volume of 25,830,183 shares. The stock had previously closed at $165.06.

Specifically, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This represents a 19.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Piper Sandler reduced their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Morgan Stanley lowered their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Price Performance

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average price is $179.66 and its 200 day moving average price is $176.72. The company has a market capitalization of $1.88 trillion, a P/E ratio of 19.17, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio is 9.94%.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently bought and sold shares of the company. Compass Planning Associates Inc bought a new position in Alphabet in the fourth quarter valued at approximately $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter worth $39,000. Finally, PayPay Securities Corp boosted its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.