Alphabet (NASDAQ:GOOG) Hits New 52-Week Low at $101.86

Alphabet Inc. (NASDAQ:GOOGGet Rating) shares hit a new 52-week low during trading on Friday . The company traded as low as $101.86 and last traded at $102.98, with a volume of 378763 shares. The stock had previously closed at $103.90.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. MKM Partners reduced their price target on Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a report on Monday, July 18th. Itau BBA Securities initiated coverage on Alphabet in a report on Tuesday, July 26th. They issued a “market perform” rating for the company. Cowen reduced their price target on Alphabet from $300.00 to $150.00 in a report on Monday, July 25th. Oppenheimer reduced their price target on Alphabet from $3,290.00 to $165.00 in a report on Tuesday, July 19th. Finally, Piper Sandler reduced their price target on Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.05.

Alphabet Stock Down 0.3 %

The company has a market capitalization of $1.35 trillion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $113.75 and a two-hundred day moving average of $119.40.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $57.47 billion during the quarter, compared to analysts’ expectations of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the previous year, the company posted $27.26 earnings per share. Equities research analysts predict that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the transaction, the director now directly owns 33,260 shares in the company, valued at $3,658,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the transaction, the director now directly owns 33,260 shares in the company, valued at $3,658,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The disclosure for this sale can be found here. Insiders sold a total of 44,536 shares of company stock worth $15,729,998 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds have recently modified their holdings of the stock. SWS Partners acquired a new stake in shares of Alphabet in the first quarter valued at $28,000. Rational Advisors LLC acquired a new stake in Alphabet in the first quarter valued at $28,000. IAG Wealth Partners LLC raised its stake in Alphabet by 120.0% in the first quarter. IAG Wealth Partners LLC now owns 11 shares of the information services provider’s stock valued at $31,000 after buying an additional 6 shares in the last quarter. Rather & Kittrell Inc. acquired a new stake in Alphabet in the fourth quarter valued at $34,000. Finally, Westchester Capital Management Inc. acquired a new stake in Alphabet in the first quarter valued at $36,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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