Shares of Alphabet Inc. (NASDAQ:GOOG - Get Free Report) traded up 1.5% during mid-day trading on Tuesday . The company traded as high as $168.50 and last traded at $168.55. 8,014,011 shares were traded during mid-day trading, a decline of 61% from the average session volume of 20,596,915 shares. The stock had previously closed at $166.01.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on GOOG shares. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $204.88.
Read Our Latest Stock Analysis on GOOG
Alphabet Trading Up 2.2%
The company has a market cap of $2.08 trillion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The company's fifty day moving average price is $166.90 and its two-hundred day moving average price is $176.24. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the business posted $1.89 earnings per share. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock worth $37,745,632 in the last quarter. Insiders own 12.99% of the company's stock.
Institutional Trading of Alphabet
A number of institutional investors have recently modified their holdings of GOOG. Cassaday & Co Wealth Management LLC increased its stake in Alphabet by 9.3% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock valued at $5,341,000 after buying an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC grew its holdings in shares of Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after acquiring an additional 380 shares in the last quarter. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Alphabet in the fourth quarter valued at about $204,262,000. Finally, Ascent Wealth Partners LLC raised its holdings in Alphabet by 246.2% during the fourth quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider's stock worth $1,085,000 after acquiring an additional 4,052 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.
About Alphabet
(
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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.
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