Shares of Alphabet Inc. (NASDAQ:GOOG - Get Free Report) traded down 0.6% on Tuesday . The company traded as low as $159.39 and last traded at $161.47. 5,892,713 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 19,266,257 shares. The stock had previously closed at $162.42.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Oppenheimer boosted 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. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research note on Friday. Westpark Capital reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday. Finally, UBS Group decreased their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $203.94.
Check Out Our Latest Analysis on GOOG
Alphabet Stock Performance
The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.34 and a beta of 1.04. The business has a 50-day moving average price of $163.76 and a 200-day moving average price of $177.34.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts forecast 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 will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. Alphabet's dividend payout ratio is presently 9.36%.
Insider Transactions at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,163 shares of company stock worth $25,361,647. Company insiders own 12.99% of the company's stock.
Institutional Trading of Alphabet
Several hedge funds and other institutional investors have recently bought and sold shares of GOOG. Concurrent Investment Advisors LLC lifted its holdings in Alphabet by 23.5% in the first quarter. Concurrent Investment Advisors LLC now owns 132,204 shares of the information services provider's stock valued at $20,654,000 after acquiring an additional 25,191 shares during the period. HM Payson & Co. increased its holdings in shares of Alphabet by 0.7% during the 1st quarter. HM Payson & Co. now owns 1,453,882 shares of the information services provider's stock valued at $227,140,000 after purchasing an additional 9,582 shares in the last quarter. Macroview Investment Management LLC lifted its stake in shares of Alphabet by 12.1% in the 1st quarter. Macroview Investment Management LLC now owns 1,766 shares of the information services provider's stock valued at $276,000 after purchasing an additional 191 shares during the period. Brickley Wealth Management boosted its holdings in Alphabet by 7.2% during the first quarter. Brickley Wealth Management now owns 1,602 shares of the information services provider's stock worth $250,000 after buying an additional 107 shares in the last quarter. Finally, World Investment Advisors grew its position in Alphabet by 1.8% during the first quarter. World Investment Advisors now owns 163,363 shares of the information services provider's stock valued at $25,522,000 after buying an additional 2,837 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Company Profile
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
