Alphabet (NASDAQ:GOOG) Trading 0% Higher – What’s Next?

Alphabet Inc. (NASDAQ:GOOG) shares were up 0% during trading on Thursday . The company traded as high as $164.94 and last traded at $164.50. Approximately 4,112,975 shares were traded during trading, a decline of 79% from the average daily volume of 19,429,613 shares. The stock had previously closed at $164.48.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Pivotal Research assumed coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Oppenheimer lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Price Performance

The firm has a 50-day simple moving average of $163.35 and a 200-day simple moving average of $169.95. The firm has a market cap of $2.06 trillion, a P/E ratio of 25.61, a PEG ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several large investors have recently bought and sold shares of GOOG. S.A. Mason LLC raised its stake in Alphabet by 1.5% in the 3rd quarter. S.A. Mason LLC now owns 5,325 shares of the information services provider’s stock worth $890,000 after acquiring an additional 80 shares during the last quarter. Cornerstone Wealth Group LLC increased its holdings in shares of Alphabet by 3.7% in the third quarter. Cornerstone Wealth Group LLC now owns 16,076 shares of the information services provider’s stock valued at $2,688,000 after purchasing an additional 570 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Alphabet by 0.6% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 113,127 shares of the information services provider’s stock worth $18,914,000 after purchasing an additional 623 shares during the last quarter. Fiducient Advisors LLC lifted its holdings in shares of Alphabet by 85.4% during the third quarter. Fiducient Advisors LLC now owns 9,855 shares of the information services provider’s stock worth $1,648,000 after purchasing an additional 4,540 shares during the period. Finally, JFS Wealth Advisors LLC boosted its position in Alphabet by 64.4% in the third quarter. JFS Wealth Advisors LLC now owns 25,404 shares of the information services provider’s stock valued at $4,247,000 after buying an additional 9,953 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Company Profile

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.