Alphabet (NASDAQ:GOOGL) Trading Down 0.2% After Insider Selling

Alphabet Inc. (NASDAQ:GOOGLGet Free Report)’s share price was down 0.2% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $152.73 and last traded at $154.23. Approximately 8,028,274 shares were traded during trading, a decline of 74% from the average daily volume of 30,705,619 shares. The stock had previously closed at $154.56.

Specifically, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, 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. Over the last ninety days, insiders have sold 228,239 shares of company stock valued at $32,432,382. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on GOOGL shares. Mizuho upped their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Roth Mkm reduced their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Truist Financial lowered their price target on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Royal Bank of Canada reissued an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Finally, KeyCorp upped their target price on shares of Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.39.

Check Out Our Latest Stock Report on Alphabet

Alphabet Stock Performance

The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $144.10 and its two-hundred day moving average is $138.58. The firm has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the business earned $1.05 EPS. On average, analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. FMR LLC grew its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. State Street Corp raised its holdings in Alphabet by 0.8% in the 2nd quarter. State Street Corp now owns 218,540,033 shares of the information services provider’s stock valued at $26,159,242,000 after acquiring an additional 1,666,205 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after acquiring an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after purchasing an additional 1,499,107 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

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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