Alphabet Inc. (NASDAQ:GOOG - Get Free Report) traded up 2.9% during trading on Friday . The stock traded as high as $202.39 and last traded at $202.99. 9,245,167 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 24,059,168 shares. The stock had previously closed at $197.28.
Analyst Ratings Changes
GOOG has been the topic of several recent analyst reports. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, UBS Group boosted their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $215.19.
View Our Latest Stock Report on Alphabet
Alphabet Stock Up 2.3%
The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock's fifty day simple moving average is $181.28 and its two-hundred day simple moving average is $174.68. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 400 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,219 shares of company stock worth $49,474,273. Corporate insiders own 12.99% of the company's stock.
Institutional Investors Weigh In On Alphabet
Several hedge funds have recently added to or reduced their stakes in GOOG. ARQ Wealth Advisors LLC grew its position in shares of Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares during the last quarter. Independence Bank of Kentucky increased its holdings in shares of Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after buying an additional 1,376 shares during the last quarter. Harvest Investment Services LLC lifted its position in Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after acquiring an additional 138 shares in the last quarter. Fermata Advisors LLC boosted its holdings in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after acquiring an additional 259 shares during the period. Finally, jvl associates llc grew its position in Alphabet by 3.5% in the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after acquiring an additional 343 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
About Alphabet
(
Get Free Report)
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.
Further Reading
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