Alphabet Inc. (NASDAQ:GOOG - Get Free Report) shares shot up 0% during mid-day trading on Tuesday . The stock traded as high as $168.71 and last traded at $167.88. 7,173,838 shares traded hands during trading, a decline of 64% from the average session volume of 19,694,524 shares. The stock had previously closed at $167.87.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, UBS Group decreased their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $203.94.
Read Our Latest Report on Alphabet
Alphabet Stock Performance
The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm's 50 day simple moving average is $160.17 and its 200 day simple moving average is $176.74. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. The business's revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares of the company's stock, valued at $2,606,213.28. The trade was a 8.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,744 shares of company stock worth $20,968,366 in the last ninety days. Insiders own 12.99% of the company's stock.
Institutional Trading of Alphabet
Large investors have recently made changes to their positions in the company. Integrity Alliance LLC. increased its holdings in shares of Alphabet by 590.3% in the first quarter. Integrity Alliance LLC. now owns 35,124 shares of the information services provider's stock valued at $5,487,000 after purchasing an additional 30,036 shares during the last quarter. Ransom Advisory Ltd bought a new position in Alphabet during the first quarter worth $4,895,000. Anchor Investment Management LLC grew its position in Alphabet by 1.8% in the 1st quarter. Anchor Investment Management LLC now owns 90,936 shares of the information services provider's stock valued at $14,207,000 after purchasing an additional 1,635 shares during the period. Advisory Alpha LLC boosted its holdings in Alphabet by 13.8% during the 1st quarter. Advisory Alpha LLC now owns 25,990 shares of the information services provider's stock worth $4,060,000 after acquiring an additional 3,148 shares during the last quarter. Finally, Trinity Financial Advisors LLC grew its position in Alphabet by 6.8% during the first quarter. Trinity Financial Advisors LLC now owns 5,818 shares of the information services provider's stock valued at $888,000 after buying an additional 372 shares during the period. Institutional investors own 27.26% of the company's stock.
About Alphabet
(
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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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