Alphabet (NASDAQ:GOOGL) Stock Price Down 1.3%

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) fell 1.3% on Wednesday . The stock traded as low as $175.48 and last traded at $175.51. 5,428,954 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 29,786,996 shares. The stock had previously closed at $177.85.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GOOGL shares. KeyCorp boosted their target price on Alphabet from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, April 22nd. Royal Bank of Canada increased their price objective on Alphabet from $155.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 26th. Wells Fargo & Company raised their target price on shares of Alphabet from $141.00 to $168.00 and gave the stock an "equal weight" rating in a research note on Friday, April 26th. Susquehanna boosted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a "positive" rating in a report on Monday, April 29th. Finally, Barclays increased their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $190.60.

Alphabet Stock Down 0.8 %

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 has a market cap of $2.18 trillion, a P/E ratio of 26.92, a P/E/G ratio of 1.35 and a beta of 1.02. The business has a fifty day moving average of $158.79 and a 200 day moving average of $145.98.

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 for the quarter, beating analysts' consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the company earned $1.17 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company's stock, valued at $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 2,332,691 shares of the company's stock, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,935 shares of company stock worth $31,178,987. Corporate insiders own 11.55% of the company's stock.

Hedge Funds Weigh In On Alphabet

Large investors have recently modified their holdings of the company. Joseph P. Lucia & Associates LLC increased its stake 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 raised its stake in Alphabet by 1.1% during the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider's stock worth $946,000 after acquiring an additional 66 shares in the last quarter. Wynn Capital LLC lifted its position in Alphabet by 3.9% in the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider's stock valued at $267,000 after acquiring an additional 67 shares during the last quarter. Aire Advisors LLC boosted its stake 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 acquiring an additional 68 shares in the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. grew its holdings in shares of Alphabet by 2.1% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider's stock worth $511,000 after purchasing 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.