Alphabet Inc. (NASDAQ:GOOG - Get Free Report)'s stock price traded up 4% on Wednesday . The stock traded as high as $399.93 and last traded at $399.04. 18,043,005 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 20,800,010 shares. The stock had previously closed at $383.82.
More Alphabet News
Here are the key news stories impacting Alphabet this week:
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. UBS Group reiterated a "neutral" rating and set a $348.00 price target (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Piper Sandler reiterated an "overweight" rating and set a $395.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Royal Bank Of Canada reissued an "outperform" rating and issued a $375.00 target price on shares of Alphabet in a report on Thursday, January 15th. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $345.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and an average target price of $362.73.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company's 50 day simple moving average is $321.91 and its 200 day simple moving average is $314.45. The company has a market capitalization of $4.84 trillion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 1.58 and a beta of 1.25.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. The company's revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.81 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 14.29 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 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio is presently 6.41%.
Insider Activity at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the transaction, the chief executive officer owned 1,674,560 shares of the company's stock, valued at approximately $508,028,012.80. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 47,574 shares of Alphabet stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the sale, the insider owned 13,227 shares in the company, valued at $3,987,279.15. This trade represents a 78.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 158,553 shares of company stock worth $47,951,856. Insiders own 12.99% of the company's stock.
Institutional Investors Weigh In On Alphabet
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOG. Militia Capital Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $6,377,000. Signature Equity Partners LLC increased its holdings in shares of Alphabet by 22.8% in the 1st quarter. Signature Equity Partners LLC now owns 4,232 shares of the information services provider's stock valued at $1,214,000 after acquiring an additional 786 shares during the period. Goepper Burkhardt LLC raised its position in Alphabet by 10.1% in the 1st quarter. Goepper Burkhardt LLC now owns 1,202 shares of the information services provider's stock valued at $345,000 after purchasing an additional 110 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Alphabet by 1.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 186,070 shares of the information services provider's stock valued at $53,376,000 after purchasing an additional 2,811 shares during the last quarter. Finally, Acumen Wealth Advisors LLC boosted its stake in Alphabet by 25.9% during the 1st quarter. Acumen Wealth Advisors LLC now owns 4,121 shares of the information services provider's stock worth $1,182,000 after purchasing an additional 849 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Company Profile
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Get Free Report)
Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.
Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
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