Alphabet (NASDAQ:GOOGL) Trading Down 0.7% – Time to Sell?

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) shares were down 0.7% on Tuesday . The company traded as low as $184.71 and last traded at $185.09. Approximately 5,727,867 shares were traded during trading, a decline of 79% from the average daily volume of 27,717,811 shares. The stock had previously closed at $186.47.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Citigroup dropped their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Wolfe Research lifted their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Cantor Fitzgerald decreased their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wedbush lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

View Our Latest Report on Alphabet

Alphabet Stock Down 0.9 %

The firm’s 50-day simple moving average is $191.90 and its 200 day simple moving average is $174.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The stock has a market capitalization of $2.26 trillion, a P/E ratio of 22.97, a PEG ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s payout ratio is presently 9.94%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,529 shares of company stock worth $16,600,078. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently bought and sold shares of the company. Czech National Bank grew its holdings in Alphabet by 6.6% in the third quarter. Czech National Bank now owns 1,193,541 shares of the information services provider’s stock worth $197,949,000 after purchasing an additional 74,225 shares during the period. Marotta Asset Management grew its holdings in shares of Alphabet by 25.0% during the third quarter. Marotta Asset Management now owns 2,724 shares of the information services provider’s stock valued at $452,000 after buying an additional 545 shares during the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in shares of Alphabet by 1.4% during the third quarter. Canandaigua National Bank & Trust Co. now owns 23,766 shares of the information services provider’s stock valued at $3,942,000 after buying an additional 322 shares during the last quarter. Trinity Financial Advisors LLC grew its holdings in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the last quarter. Finally, Wiser Wealth Management Inc grew its holdings in shares of Alphabet by 4.5% during the third quarter. Wiser Wealth Management Inc now owns 2,907 shares of the information services provider’s stock valued at $482,000 after buying an additional 125 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

About Alphabet

(Get Free Report)

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.

Further Reading

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