Alphabet (NASDAQ:GOOGL) Trading Down 0.1% – Time to Sell?

Alphabet Inc. (NASDAQ:GOOGL)’s share price traded down 0.1% on Thursday . The stock traded as low as $161.05 and last traded at $162.69. 7,468,890 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 26,804,137 shares. The stock had previously closed at $162.78.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley dropped their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Tigress Financial increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Bank of America boosted their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Performance

The company’s 50-day moving average is $161.95 and its two-hundred day moving average is $168.43. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 25.35, a P/E/G 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:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm posted $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the stock. MorganRosel Wealth Management LLC boosted its holdings in shares of Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the period. Hengehold Capital Management LLC lifted its stake in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares during the period. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. First PREMIER Bank increased its position in shares of Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the period. Finally, MKT Advisors LLC raised its stake in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares in the last quarter. 40.03% 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.