Alphabet (NASDAQ:GOOGL - Get Free Report) released its quarterly earnings results on Thursday. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79, Zacks reports. The firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the company earned $1.89 EPS.
Alphabet Stock Performance
Alphabet stock traded down $1.35 during midday trading on Monday, hitting $160.61. 29,697,494 shares of the company's stock were exchanged, compared to its average volume of 28,296,295. The firm's 50 day simple moving average is $162.18 and its 200 day simple moving average is $175.62. Alphabet has a 12-month low of $140.53 and a 12-month high of $207.05. 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 stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.52%. Alphabet's dividend payout ratio is 9.36%.
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,163 shares of company stock worth $25,361,647. Company insiders own 11.55% of the company's stock.
Institutional Investors Weigh In On Alphabet
An institutional investor recently raised its position in Alphabet stock. Revolve Wealth Partners LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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. Institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on GOOGL. Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a report on Friday. Piper Sandler lifted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday. Wedbush set a $190.00 price target on Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $198.63.
Check Out Our Latest Stock Analysis on GOOGL
Alphabet Company Profile
(
Get Free Report)
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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