Alphabet (NASDAQ:GOOG) Stock Price Down 0.2% on Insider Selling

Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.2% on Wednesday following insider selling activity. The stock traded as low as $185.38 and last traded at $186.16. 2,188,810 shares changed hands during trading, a decline of 90% from the average session volume of 21,019,246 shares. The stock had previously closed at $186.61.

Specifically, CAO Amie Thuener O’toole sold 682 shares of the firm’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 transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,788 shares of company stock worth $21,143,403. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.86.

Alphabet Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a 50-day moving average of $175.47 and a 200 day moving average of $156.57. The stock has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.38 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its 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 $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the business posted $1.17 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOG. Kennedy Capital Management LLC increased its stake in Alphabet by 13.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock worth $8,532,000 after acquiring an additional 7,556 shares during the period. Jackson Wealth Management LLC grew its holdings in shares of Alphabet by 4.6% during the 3rd quarter. Jackson Wealth Management LLC now owns 39,806 shares of the information services provider’s stock worth $5,248,000 after purchasing an additional 1,735 shares in the last quarter. JS Capital Management LLC increased its position in shares of Alphabet by 164.0% in the third quarter. JS Capital Management LLC now owns 330,000 shares of the information services provider’s stock worth $43,510,000 after purchasing an additional 205,000 shares during the period. JPMorgan Chase & Co. raised its stake in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Finally, Seven Eight Capital LP grew its stake in Alphabet by 48.1% during the third quarter. Seven Eight Capital LP now owns 88,776 shares of the information services provider’s stock worth $11,705,000 after buying an additional 28,838 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

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.