Alphabet (NASDAQ:GOOGL) Shares Down 1.1% – Should You Sell?

Shares of Alphabet Inc. (NASDAQ:GOOGL) were down 1.1% during mid-day trading on Wednesday . The company traded as low as $316.79 and last traded at $319.95. Approximately 51,049,103 shares were traded during mid-day trading, an increase of 39% from the average daily volume of 36,829,996 shares. The stock had previously closed at $323.44.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOGL. Arete upped their target price on shares of Alphabet from $220.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Susquehanna lifted their price objective on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a report on Thursday, October 30th. HSBC upped their price objective on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Daiwa Capital Markets raised their target price on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.84.

Alphabet Price Performance

The business has a fifty day moving average of $265.17 and a 200 day moving average of $216.20. The firm has a market cap of $3.86 trillion, a P/E ratio of 31.55, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 225,174 shares of company stock valued at $58,095,223. 11.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Guardian Wealth Management Inc. boosted its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in Alphabet in the second quarter valued at approximately $31,000. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the last quarter. 40.03% of the stock is currently 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.