Alphabet (NASDAQ:GOOGL) Trading Up 0% – Here’s What Happened

Alphabet Inc. (NASDAQ:GOOGL)’s share price traded up 0% on Monday . The company traded as high as $164.50 and last traded at $163.49. Approximately 1,745,245 shares were traded during mid-day trading, a decline of 94% from the average session volume of 26,905,807 shares. The stock had previously closed at $163.42.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Bank of America upped their price objective on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Monday, October 7th. Citigroup upped their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Tuesday, October 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.21 and a beta of 1.04. The firm’s fifty day moving average is $161.77 and its 200-day moving average is $168.25.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Capital Research Global Investors raised its holdings in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Wulff Hansen & CO. lifted its position in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. boosted its stake in shares of Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.