Alphabet (NASDAQ:GOOGL) Shares Down 0.2% Following Insider Selling

Alphabet Inc. (NASDAQ:GOOGL)’s stock price was down 0.2% on Wednesday following insider selling activity. The company traded as low as $184.00 and last traded at $184.91. Approximately 3,895,541 shares were traded during trading, a decline of 86% from the average daily volume of 28,364,176 shares. The stock had previously closed at $185.24.

Specifically, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,788 shares of company stock valued at $21,143,403. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GOOGL shares. Bank of America reiterated a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research report on Tuesday, June 11th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price objective (down previously from $182.00) on shares of Alphabet in a research report on Friday, June 28th. Barclays lifted their target price on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada increased their price target on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $193.66.

Alphabet Trading Down 0.1 %

The company has a market cap of $2.29 trillion, a P/E ratio of 28.36, a P/E/G ratio of 1.37 and a beta of 1.05. The business’s 50-day moving average price is $173.92 and its 200 day moving average price is $155.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the company posted $1.17 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently added to or reduced their stakes in the business. PointState Capital LP bought a new position in Alphabet during the third quarter worth about $28,651,000. 3G Capital Partners LP increased its holdings in shares of Alphabet by 141.7% during the third quarter. 3G Capital Partners LP now owns 72,500 shares of the information services provider’s stock worth $9,487,000 after purchasing an additional 42,500 shares during the period. Karani Asset Management LLC raised its position in shares of Alphabet by 97.4% in the third quarter. Karani Asset Management LLC now owns 13,621 shares of the information services provider’s stock valued at $1,782,000 after buying an additional 6,720 shares in the last quarter. Dempze Nancy E boosted its stake in shares of Alphabet by 0.5% in the third quarter. Dempze Nancy E now owns 33,595 shares of the information services provider’s stock valued at $4,396,000 after buying an additional 165 shares during the period. Finally, Northeast Financial Consultants Inc grew its position in Alphabet by 1.9% during the third quarter. Northeast Financial Consultants Inc now owns 183,695 shares of the information services provider’s stock worth $24,038,000 after buying an additional 3,456 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

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.