Alphabet (NASDAQ:GOOGL) Stock Price Down 0.6%

Alphabet Inc. (NASDAQ:GOOGL)’s share price fell 0.6% on Wednesday . The company traded as low as $164.67 and last traded at $166.23. 5,766,299 shares were traded during trading, a decline of 79% from the average session volume of 27,978,455 shares. The stock had previously closed at $167.18.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOGL shares. Mizuho increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial upped their target price on Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Evercore ISI increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Price Performance

The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $175.42 and a 200 day moving average price of $162.87. The company has a market capitalization of $2.05 trillion, a P/E ratio of 25.50, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the firm posted $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s 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 Alphabet stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders sold 134,065 shares of company stock valued at $23,051,543 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently modified their holdings of the business. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $30,000. Finally, Denver PWM LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.