Alphabet (NASDAQ:GOOGL) Shares Down 1.8%

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) dropped 1.8% during trading on Monday . The company traded as low as $164.00 and last traded at $165.62. Approximately 10,678,537 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 30,199,631 shares. The stock had previously closed at $168.65.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Robert W. Baird lifted their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 26th. KeyCorp lifted their price objective on Alphabet from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, April 22nd. Wolfe Research increased their target price on Alphabet from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 26th. Evercore ISI boosted their price target on Alphabet from $160.00 to $220.00 and gave the stock an "outperform" rating in a report on Friday, April 26th. Finally, Truist Financial lifted their price objective on Alphabet from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $190.60.

Alphabet Trading Up 0.3 %

The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm's 50-day simple moving average is $153.32 and its 200 day simple moving average is $143.58. The stock has a market capitalization of $2.09 trillion, a P/E ratio of 25.40, a PEG ratio of 1.29 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analysts' expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 48,076 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total value of $6,836,407.20. Following the completion of the sale, the insider now owns 12,725 shares in the company, valued at approximately $1,809,495. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider John Kent Walker sold 48,076 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the sale, the insider now directly owns 12,725 shares of the company's stock, valued at approximately $1,809,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company's stock, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,829 shares of company stock valued at $36,971,456. 0.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently modified their holdings of the stock. Joseph P. Lucia & Associates LLC boosted its holdings in Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider's stock valued at $1,000,000 after purchasing an additional 64 shares during the last quarter. M. Kraus & Co increased its position in shares of Alphabet by 1.1% in the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider's stock worth $946,000 after purchasing an additional 66 shares during the last quarter. Wynn Capital LLC lifted its position in shares of Alphabet by 3.9% during the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider's stock worth $267,000 after purchasing an additional 67 shares during the last quarter. Aire Advisors LLC increased its holdings in Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider's stock valued at $1,645,000 after buying an additional 68 shares during the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. lifted its holdings in Alphabet by 2.1% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider's stock worth $511,000 after buying an additional 68 shares during the last quarter. 40.03% of the stock is currently 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.

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