Alphabet (NASDAQ:GOOG) Stock Price Up 2.2% - Here's Why

Shares of Alphabet Inc. (NASDAQ:GOOG - Get Free Report) were up 2.2% on Monday . The company traded as high as $190.85 and last traded at $189.96. Approximately 9,731,730 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 21,542,407 shares. The stock had previously closed at $185.94.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GOOG shares. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Scotiabank lowered their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Oppenheimer restated an "outperform" rating and set a $220.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reiterated an "outperform" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $208.40.

Alphabet Price Performance

The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.32 trillion, a PE ratio of 21.31, a P/E/G ratio of 1.30 and a beta of 1.01. The firm's fifty day moving average price is $174.02 and its 200 day moving average price is $174.50.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. The business's quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.44%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director directly owned 6,013 shares of the company's stock, valued at $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,843 shares of company stock valued at $37,288,490 in the last quarter. Corporate insiders own 12.99% of the company's stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ARQ Wealth Advisors LLC increased its holdings in 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 purchasing an additional 1,400 shares in the last quarter. Independence Bank of Kentucky lifted its position in 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 acquiring an additional 1,376 shares in the last quarter. Harvest Investment Services LLC boosted its holdings in Alphabet by 3.3% in 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 during the period. Fermata Advisors LLC raised its stake in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after purchasing an additional 259 shares during the period. Finally, jvl associates llc lifted its position in shares of Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile

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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