Alphabet (NASDAQ:GOOGL) Stock Price Down 0.5%

Alphabet Inc. (NASDAQ:GOOGL)’s stock price dropped 0.5% during mid-day trading on Monday . The company traded as low as $174.81 and last traded at $175.82. Approximately 4,143,394 shares changed hands during trading, a decline of 86% from the average daily volume of 28,793,176 shares. The stock had previously closed at $176.79.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $195.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. TD Cowen boosted their price target on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Robert W. Baird boosted their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Bank of America reiterated a “buy” rating and set a $200.00 price target on shares of Alphabet in a report on Tuesday, June 11th. Finally, Royal Bank of Canada boosted their price target on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.26.

Alphabet Stock Up 0.3 %

The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.33 and a beta of 1.01. The firm’s 50 day simple moving average is $168.08 and its 200-day simple moving average is $151.11.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the company posted $1.17 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,458 shares of company stock valued at $25,731,103. 11.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently added to or reduced their stakes in the business. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $38,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC boosted its stake in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.