Zacks Investment Research lowered shares of Alphabet (NASDAQ:GOOG) from a hold rating to a sell rating in a research note published on Thursday, Zacks.com reports.

According to Zacks, “Alphabet Inc. is engaged in technology business. The Company provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce and hardware products through its subsidiaries. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California. “

Other research analysts have also issued research reports about the company. Barclays restated a buy rating on shares of Alphabet in a report on Tuesday, April 30th. Wedbush restated an outperform rating on shares of Alphabet in a report on Thursday, April 25th. Cowen reaffirmed an outperform rating and issued a $1,420.00 target price (up from $1,390.00) on shares of Alphabet in a research note on Thursday, April 11th. UBS Group reissued a hold rating and set a $130.00 price objective on shares of Continental in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised their price objective on Weight Watchers International from $12.00 to $14.00 and gave the stock an underweight rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $1,362.38.

Shares of GOOG stock opened at $1,130.10 on Thursday. The company has a fifty day moving average price of $1,103.26. The company has a quick ratio of 3.93, a current ratio of 3.96 and a debt-to-equity ratio of 0.02. The stock has a market cap of $784.56 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 1.33 and a beta of 0.95. Alphabet has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, beating analysts’ consensus estimates of $10.51 by $1.39. The company had revenue of $36.34 billion for the quarter, compared to analyst estimates of $37.36 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $9.93 EPS. As a group, equities research analysts predict that Alphabet will post 48.43 earnings per share for the current year.

In other news, Director John L. Hennessy sold 75 shares of Alphabet stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $1,280.51, for a total value of $96,038.25. Following the transaction, the director now directly owns 159 shares in the company, valued at $203,601.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 39 shares of Alphabet stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $1,187.53, for a total value of $46,313.67. Following the completion of the transaction, the director now owns 1,797 shares in the company, valued at $2,133,991.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 403 shares of company stock valued at $461,293. 12.99% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Central Bank & Trust Co. boosted its stake in shares of Alphabet by 3.1% during the 2nd quarter. Central Bank & Trust Co. now owns 295 shares of the information services provider’s stock worth $319,000 after buying an additional 9 shares during the last quarter. Telos Capital Management Inc. increased its stake in Alphabet by 1.0% in the second quarter. Telos Capital Management Inc. now owns 921 shares of the information services provider’s stock valued at $996,000 after acquiring an additional 9 shares during the last quarter. Hemenway Trust Co LLC increased its stake in Alphabet by 2.9% in the fourth quarter. Hemenway Trust Co LLC now owns 358 shares of the information services provider’s stock valued at $371,000 after acquiring an additional 10 shares during the last quarter. TD Capital Management LLC boosted its position in Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock valued at $37,000 after buying an additional 10 shares in the last quarter. Finally, Meristem Family Wealth LLC boosted its position in Alphabet by 1.5% in the fourth quarter. Meristem Family Wealth LLC now owns 690 shares of the information services provider’s stock valued at $715,000 after buying an additional 10 shares in the last quarter. 34.00% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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