Alphabet (NASDAQ:GOOG) Stock Price Down 0.2%

Alphabet Inc. (NASDAQ:GOOG)’s stock price was down 0.2% during trading on Monday . The company traded as low as $167.89 and last traded at $168.61. Approximately 5,006,307 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 22,630,572 shares. The stock had previously closed at $168.99.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Raymond James upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $165.67.

Alphabet Stock Down 1.1 %

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 business has a 50 day moving average of $152.74 and a 200 day moving average of $144.21. The firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

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, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the prior year, the firm posted $1.17 EPS. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the sale, the director now owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider John Kent Walker sold 48,076 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the transaction, the insider now directly owns 12,725 shares in the company, valued at $1,809,495. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the sale, the director now directly owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The disclosure for this sale can be found here. Insiders sold 252,629 shares of company stock valued at $37,091,240 in the last ninety days. Insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GOOG. FMR LLC raised its holdings in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after purchasing an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 buying an additional 9,703,425 shares during the period. Capital International Investors boosted its stake in Alphabet by 1.1% in the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after acquiring an additional 862,550 shares during the last quarter. Northern Trust Corp grew its holdings in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after acquiring an additional 1,275,060 shares during the period. Finally, Norges Bank bought a new stake in shares of Alphabet during the 4th quarter valued at $4,101,040,000. 27.26% of the stock is currently 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.