Alphabet (NASDAQ:GOOG) Shares Down 1.3% – Should You Sell?

Alphabet Inc. (NASDAQ:GOOG) traded down 1.3% during mid-day trading on Wednesday . The stock traded as low as $169.64 and last traded at $170.55. 4,855,908 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 17,778,122 shares. The stock had previously closed at $172.79.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Down 2.0 %

The company has a 50 day moving average of $183.56 and a 200-day moving average of $178.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $2.06 trillion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Several hedge funds have recently added to or reduced their stakes in the business. Weiss Asset Management LP bought a new position in Alphabet during the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $27,000. LSV Asset Management purchased a new position in shares of Alphabet in the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the third quarter worth $33,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Alphabet during the 4th quarter valued at $38,000. 27.26% of the stock is owned by institutional investors.

About Alphabet

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.