Alphabet (NASDAQ:GOOG) Stock Price Down 0.1% on Insider Selling

Alphabet Inc. (NASDAQ:GOOG)’s stock price fell 0.1% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $165.22 and last traded at $166.80. 2,166,332 shares changed hands during trading, a decline of 89% from the average session volume of 19,631,441 shares. The stock had previously closed at $166.90.

Specifically, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now directly 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 other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,406,343.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

GOOG has been the topic of a number of research analyst reports. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. UBS Group decreased their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, Pivotal Research initiated coverage on shares of Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Stock Down 0.1 %

The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 1.21 and a beta of 1.04. The business’s 50-day moving average is $163.17 and its two-hundred day moving average is $169.55. 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:GOOG) last announced its quarterly earnings results 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 business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the company posted $1.44 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Institutional Trading of Alphabet

A number of hedge funds have recently modified their holdings of the company. Capital International Investors raised its position in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares during the period. JPMorgan Chase & Co. raised its holdings in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors raised its holdings in Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors raised its holdings in Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after buying an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after buying an additional 636,008 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

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.