Alphabet (NASDAQ:GOOG) Trading 0.4% Higher – Still a Buy?

Alphabet Inc. (NASDAQ:GOOG)’s stock price was up 0.4% on Tuesday . The stock traded as high as $169.09 and last traded at $167.08. Approximately 4,075,822 shares were traded during trading, a decline of 79% from the average daily volume of 19,665,168 shares. The stock had previously closed at $166.35.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Oppenheimer dropped their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. UBS Group decreased their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Trading Down 1.3 %

The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.03 trillion, a PE ratio of 25.32, a P/E/G ratio of 1.21 and a beta of 1.04. The stock has a 50 day moving average price of $163.17 and a 200-day moving average price of $169.55.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on 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 owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. 12.99% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP bought a new position in shares of Alphabet during the second quarter valued at approximately $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the second quarter worth approximately $44,000. Finally, Hoese & Co LLP lifted its stake in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other 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.