Alphabet (NASDAQ:GOOGL) Trading Down 2.8%

Alphabet Inc. (NASDAQ:GOOGL) dropped 2.8% on Thursday . The stock traded as low as $150.87 and last traded at $154.66. Approximately 16,231,333 shares changed hands during trading, a decline of 45% from the average daily volume of 29,681,627 shares. The stock had previously closed at $159.13.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Jefferies Financial Group upped their price target on Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Redburn Atlantic raised their target price on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Barclays decreased their target price on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Finally, Wedbush restated an “outperform” rating and issued a $175.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.71.

Alphabet Trading Down 2.0 %

The company has a market cap of $1.94 trillion, a P/E ratio of 26.67, a P/E/G ratio of 1.46 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. The stock’s 50-day moving average is $146.96 and its two-hundred day moving average is $141.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the previous year, the firm posted $1.05 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last 90 days. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

Large investors have recently bought and sold shares of the business. Tributary Capital Management LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the 4th quarter valued at approximately $38,000. Richardson Capital Management LLC raised its holdings in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares during the last quarter. Finally, Meritage Group LP lifted its stake in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the period. Institutional investors own 40.03% 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.