Alphabet (NASDAQ:GOOGL) Trading Up 0.5%

Alphabet Inc. (NASDAQ:GOOGL) rose 0.5% during mid-day trading on Monday . The company traded as high as $159.24 and last traded at $158.58. 6,818,099 shares traded hands during trading, a decline of 77% from the average daily volume of 30,212,330 shares. The stock had previously closed at $157.73.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. Rosenblatt Securities lowered their target price on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Truist Financial decreased their price target on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Roth Mkm reduced their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Five equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.64.

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 company has a market capitalization of $1.92 trillion, a PE ratio of 26.62, a PEG ratio of 1.43 and a beta of 1.05. The company has a 50-day moving average price of $145.76 and a two-hundred day moving average price of $140.19.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the company earned $1.05 EPS. Analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,839 shares of company stock valued at $32,835,757. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Large investors have recently added to or reduced their stakes in the company. Bornite Capital Management LP bought a new stake in shares of Alphabet in the 1st quarter worth approximately $16,688,000. Markel Corp raised its position in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank lifted its stake in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management boosted its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.