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

Alphabet Inc. (NASDAQ:GOOGGet Free Report)’s stock price dropped 0.2% on Wednesday following insider selling activity. The company traded as low as $154.13 and last traded at $155.59. Approximately 4,924,797 shares changed hands during trading, a decline of 78% from the average daily volume of 22,777,256 shares. The stock had previously closed at $155.87.

Specifically, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was 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 $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’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 sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the completion of the sale, the director now owns 6,784 shares in the company, valued at $973,436.16. The disclosure for this sale can be found here. Insiders have sold 228,239 shares of company stock worth $32,432,382 over the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $146.33.

Get Our Latest Stock Analysis on Alphabet

Alphabet Trading Down 0.2 %

The business has a fifty day moving average of $145.30 and a 200-day moving average of $139.86. The stock has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. 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:GOOGGet Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently bought and sold shares of GOOG. Totem Point Management LLC increased its stake in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares in the last quarter. Somerville Kurt F boosted its position in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the period. BCK Partners Inc. acquired a new stake in Alphabet during the 1st quarter worth about $2,564,000. Hall Capital Management Co. Inc. boosted its position in Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. boosted its position in Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Company Profile

(Get Free Report)

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.

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