Shares of Alphabet Inc. (NASDAQ:GOOG - Get Free Report) traded up 2.4% on Friday . The stock traded as high as $205.02 and last traded at $205.36. 6,960,622 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 23,615,760 shares. The stock had previously closed at $200.62.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Oppenheimer restated an "outperform" rating and issued a $235.00 target price (up from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Pivotal Research upped their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $215.19.
Check Out Our Latest Analysis on Alphabet
Alphabet Stock Performance
The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.50 trillion, a PE ratio of 22.01, a P/E/G ratio of 1.39 and a beta of 1.02. The stock's 50 day simple moving average is $187.71 and its two-hundred day simple moving average is $174.73.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for 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%. Alphabet's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,719 shares of company stock worth $47,223,172. 12.99% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alphabet
A number of large investors have recently added to or reduced their stakes in the company. Carter Financial Group INC. acquired a new stake in Alphabet during the 2nd quarter valued at $1,993,000. TT Capital Management LLC grew its holdings in Alphabet by 11.4% during the 2nd quarter. TT Capital Management LLC now owns 8,478 shares of the information services provider's stock valued at $1,504,000 after purchasing an additional 871 shares in the last quarter. Cim Investment Management Inc. grew its holdings in Alphabet by 99.7% during the 2nd quarter. Cim Investment Management Inc. now owns 35,806 shares of the information services provider's stock valued at $6,586,000 after purchasing an additional 17,875 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in Alphabet by 11.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 4,384 shares of the information services provider's stock valued at $778,000 after purchasing an additional 453 shares in the last quarter. Finally, Thompson Davis & CO. Inc. grew its holdings in Alphabet by 15.6% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,597 shares of the information services provider's stock worth $461,000 after acquiring an additional 350 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Company Profile
(
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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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