Alphabet (NASDAQ:GOOGL) Stock Price Down 0.1%

Alphabet Inc. (NASDAQ:GOOGL) shares dropped 0.1% during mid-day trading on Tuesday . The stock traded as low as $163.98 and last traded at $165.93. Approximately 8,229,480 shares were traded during trading, a decline of 73% from the average daily volume of 30,550,977 shares. The stock had previously closed at $166.15.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOGL. Susquehanna lifted their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday. Argus upped their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore ISI raised their target price on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a report on Friday. UBS Group boosted their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Sanford C. Bernstein increased their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $189.74.

Alphabet Stock Down 1.4 %

The firm’s 50 day simple moving average is $148.36 and its 200 day simple moving average is $141.62. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 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 firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period last year, the firm earned $1.17 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 6.82 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 10th.

Insider Activity

In related news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,209 shares of company stock worth $36,711,144. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the 4th quarter valued at $38,000. Meritage Group LP raised its holdings in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Finally, Macroview Investment Management LLC lifted its position in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the last quarter. 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.