Alphabet (NASDAQ:GOOGL) Trading Down 0.2% on Insider Selling

Alphabet Inc. (NASDAQ:GOOGL)’s share price fell 0.2% on Wednesday following insider selling activity. The stock traded as low as $184.00 and last traded at $184.91. 3,895,541 shares were traded during mid-day trading, a decline of 86% from the average session volume of 28,364,176 shares. The stock had previously closed at $185.24.

Specifically, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on 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 owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated 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 owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,788 shares of company stock worth $21,143,403. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOOGL shares. Barclays boosted their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Stifel Nicolaus restated a “buy” rating and set a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Robert W. Baird raised their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Mizuho boosted their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Roth Mkm raised their price objective on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

Alphabet Trading Up 0.3 %

The stock has a 50 day simple moving average of $173.92 and a 200-day simple moving average of $155.17. 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 firm has a market capitalization of $2.30 trillion, a P/E ratio of 28.50, a P/E/G ratio of 1.37 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is 12.27%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet during the 4th quarter valued at about $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the fourth quarter worth about $38,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the period. Finally, Richardson Capital Management LLC increased its holdings in 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 period. 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.