Alphabet (NASDAQ:GOOGL) Shares Up 0% – What’s Next?

Alphabet Inc. (NASDAQ:GOOGL)’s share price rose 0% during trading on Monday . The stock traded as high as $164.50 and last traded at $163.49. Approximately 1,745,245 shares were traded during trading, a decline of 94% from the average daily volume of 26,905,807 shares. The stock had previously closed at $163.42.

Analysts Set New Price Targets

GOOGL has been the topic of several recent analyst reports. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Argus upped their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley reduced their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, Wolfe Research started coverage on Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Down 1.4 %

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 company has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 1.21 and a beta of 1.04. The stock’s 50-day moving average is $161.82 and its 200-day moving average is $168.44.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the company posted $1.44 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. 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 available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

A number of hedge funds have recently made changes to their positions in GOOGL. MorganRosel Wealth Management LLC increased its holdings in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC grew its position in shares of Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. First PREMIER Bank grew its stake in Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after buying an additional 61 shares in the last quarter. Finally, MKT Advisors LLC grew its position in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Company Profile

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.