Alphabet (NASDAQ:GOOG) Stock Price Down 2.1% After Insider Selling

Shares of Alphabet Inc. (NASDAQ:GOOG) were down 2.1% during trading on Tuesday following insider selling activity. The company traded as low as $276.87 and last traded at $278.06. Approximately 17,806,410 shares changed hands during trading, a decline of 24% from the average daily volume of 23,449,363 shares. The stock had previously closed at $284.12.

Specifically, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the transaction, the chief accounting officer owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

GOOG has been the topic of a number of recent research reports. Pivotal Research boosted their target price on Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Oppenheimer boosted their target price on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. HSBC reissued a “buy” rating and issued a $335.00 target price on shares of Alphabet in a report on Thursday, October 30th. Finally, DA Davidson set a $825.00 price objective on Alphabet in a report on Monday, October 27th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Price Performance

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.36 trillion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The stock has a fifty day moving average of $247.49 and a two-hundred day moving average of $203.10.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Institutional Trading of Alphabet

Large investors have recently bought and sold shares of the company. RDA Financial Network grew its stake in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares during the period. Oldfather Financial Services LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $213,000. Tower View Wealth Management LLC grew its stake in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. grew its stake in shares of Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after purchasing an additional 1,970 shares during the period. Institutional investors and hedge funds own 27.26% 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.