Alphabet (NASDAQ:GOOG) Trading Down 0.5%

Alphabet Inc. (NASDAQ:GOOG)’s stock price dropped 0.5% on Friday . The company traded as low as $155.52 and last traded at $156.71. Approximately 4,825,900 shares traded hands during trading, a decline of 78% from the average daily volume of 21,985,832 shares. The stock had previously closed at $157.46.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOG. Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $159.86.

Alphabet Stock Down 1.1 %

The firm has a market cap of $1.94 trillion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company’s 50-day simple moving average is $147.35 and its 200 day simple moving average is $141.72. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 earnings per share. Research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. DC Investments Management LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new position in Alphabet during the first quarter worth about $184,000. Turim 21 Investimentos Ltda. raised its holdings in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the last quarter. qPULA Trading Management LP purchased a new position in Alphabet in the 1st quarter worth approximately $279,000. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of Alphabet by 29.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock valued at $321,000 after purchasing an additional 26 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

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.