Alphabet (NASDAQ:GOOGL - Get Free Report) issued its quarterly earnings results on Wednesday. The information services provider reported $5.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $2.97, Zacks reports. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%.
Alphabet Trading Up 0.5%
Shares of GOOGL stock traded up $1.01 on Friday, reaching $193.18. 39,738,342 shares of the stock were exchanged, compared to its average volume of 41,427,228. The stock has a market cap of $2.34 trillion, a PE ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. Alphabet has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. The stock has a 50 day moving average price of $175.77 and a 200 day moving average price of $172.93.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. 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 0.43%. Alphabet's payout ratio is currently 8.95%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on GOOGL. BMO Capital Markets upped their target price on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday. Barclays increased their price objective on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday. BNP Paribas Exane reiterated a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, DA Davidson lifted their price objective on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.32.
View Our Latest Report on GOOGL
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated 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 sale, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 over the last 90 days. 11.64% of the stock is owned by insiders.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Alphabet stock. Revolve Wealth Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,930 shares of the information services provider's stock after acquiring an additional 506 shares during the period. Revolve Wealth Partners LLC's holdings in Alphabet were worth $2,826,000 as of its most recent filing with the Securities and Exchange Commission. 40.03% of the stock is owned by institutional investors.
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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