Alphabet (NASDAQ:GOOGL) Shares Down 3.8%

Alphabet Inc. (NASDAQ:GOOGL)’s stock price traded down 3.8% during mid-day trading on Wednesday . The company traded as low as $171.82 and last traded at $174.97. 16,523,738 shares were traded during trading, a decline of 40% from the average session volume of 27,711,973 shares. The stock had previously closed at $181.79.

Analysts Set New Price Targets

Several equities research analysts recently commented on GOOGL shares. Loop Capital reissued a “hold” rating and issued a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. TD Securities upped their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Mizuho increased their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday. Sanford C. Bernstein boosted their price target on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Finally, Guggenheim increased their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Stock Performance

The company’s fifty day simple moving average is $179.22 and its two-hundred day simple moving average is $160.15. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.15 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the company posted $1.44 EPS. Equities research analysts predict that Alphabet Inc. will post 7.65 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders sold 122,388 shares of company stock worth $21,497,609 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet during the fourth quarter valued at about $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the 4th quarter valued at $38,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.