Alphabet Inc. (NASDAQ:GOOG - Get Free Report) rose 1.3% during trading on Monday . The company traded as high as $209.98 and last traded at $209.46. Approximately 6,498,379 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 23,621,047 shares. The stock had previously closed at $206.72.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group increased their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $215.19.
Check Out Our Latest Stock Analysis on GOOG
Alphabet Stock Up 1.7%
The firm's 50 day moving average price is $187.71 and its two-hundred day moving average price is $174.60. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.54 trillion, a P/E ratio of 22.40, a PEG ratio of 1.39 and a beta of 1.02.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is currently 8.95%.
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,719 shares of company stock valued at $47,223,172. 12.99% of the stock is currently owned by company insiders.
Institutional Trading of Alphabet
A number of large investors have recently added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC lifted its stake in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Norges Bank acquired a new position in Alphabet during the second quarter worth approximately $4,298,572,000. Nuveen LLC bought a new stake in Alphabet in the first quarter valued at approximately $2,622,943,000. GAMMA Investing LLC raised its stake in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.
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.
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