Alphabet (NASDAQ:GOOG) Trading Down 0.7% – Time to Sell?

Alphabet Inc. (NASDAQ:GOOG)’s stock price dropped 0.7% during trading on Thursday . The stock traded as low as $171.03 and last traded at $173.49. Approximately 7,066,335 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 17,635,977 shares. The stock had previously closed at $174.70.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Benchmark reiterated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Down 2.6 %

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 firm has a market capitalization of $2.07 trillion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The business has a 50 day moving average price of $192.98 and a 200 day moving average price of $177.64.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % 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, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,299 shares of company stock worth $25,055,751. 12.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently bought and sold shares of GOOG. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter worth about $27,000. LSV Asset Management acquired a new stake in Alphabet during the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the third quarter valued at approximately $33,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 27.26% 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.