Alphabet (NASDAQ:GOOG) Sees Unusually-High Trading Volume

Shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) saw unusually-high trading volume on Friday . Approximately 587,641 shares changed hands during trading, a decline of 97% from the previous session’s volume of 23,501,455 shares.The stock last traded at $97.55 and had previously closed at $93.91.

Wall Street Analyst Weigh In

GOOG has been the subject of several recent research reports. Piper Sandler lowered their target price on Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Cowen lowered their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Cowen lowered their target price on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Sanford C. Bernstein set a $120.00 target price on Alphabet in a report on Thursday, January 12th. Finally, Jefferies Financial Group set a $125.00 price objective on Alphabet in a report on Monday, January 9th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Trading Up 5.7 %

The business has a 50 day simple moving average of $93.52 and a 200-day simple moving average of $102.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The stock has a market capitalization of $1.28 trillion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter last year, the company posted $1.40 EPS. Alphabet’s revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Activity

In other news, Director Ann Mather sold 280 shares of the stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 280 shares of the stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

A number of hedge funds have recently modified their holdings of the business. Totem Point Management LLC raised its holdings in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after acquiring an additional 571 shares in the last quarter. Somerville Kurt F increased its position in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the last quarter. BCK Partners Inc. acquired a new position in Alphabet during the first quarter worth $2,564,000. Hall Capital Management Co. Inc. increased its position in Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. increased its position in Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Company Profile

(Get Rating)

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.

Featured Stories

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.