Alphabet (NASDAQ:GOOGL) Stock Price Up 1.1% - Time to Buy?

Key Points

• Alphabet shares rose 1.1% to $377.65, with trading volume about 9% above average. The stock remains above its 50-day and 200-day moving averages.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $419.86, implying potential upside from the current price.
• Recent catalysts include Waymo’s expanded Dallas robotaxi access, deeper Oracle integration of Google Gemini, and strong quarterly results that beat estimates on both earnings and revenue.

Shares of Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) traded up 1.1% during mid-day trading on Tuesday . The company traded as high as $380.52 and last traded at $377.65. 35,354,484 shares traded hands during trading, an increase of 9% from the average session volume of 32,574,859 shares. The stock had previously closed at $373.51.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet-owned Waymo removed the waitlist for its Dallas robotaxi service, expanding access as it scales autonomous driving. Separate analysis found Waymo vehicles crash 68% less often than human drivers, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo opens up robotaxi service in Dallas to everyone Waymo robotaxis found to crash 68% less often than human drivers
• Positive Sentiment: Oracle is deepening its integration of Google Gemini, a development that could increase enterprise distribution for Alphabet’s AI models and support Google Cloud demand. Google is also partnering with RWE on the Crooked Creek solar project, helping secure renewable energy for its operations. Oracle deepens Google Gemini integration Google partners with RWE for Crooked Creek Solar project energy
• Positive Sentiment: Investor commentary remains bullish on Alphabet’s valuation, AI monetization prospects and cloud growth. Berkshire Hathaway has reportedly made Alphabet one of its five largest holdings, adding to confidence among long-term investors. Berkshire Hathaway has invested $23 billion in this stock

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GOOGL shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $425.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Piper Sandler reiterated an "overweight" rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. China Renaissance lifted their target price on Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Truist Financial set a $420.00 target price on Alphabet and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Needham & Company LLC restated a "buy" rating and set a $450.00 target price on shares of Alphabet in a research report on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of "Buy" and an average target price of $419.86.

Alphabet Trading Up 1.1%

The business's 50 day simple moving average is $357.60 and its 200-day simple moving average is $339.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The stock has a market capitalization of $4.62 trillion, a P/E ratio of 18.97, a PEG ratio of 1.00 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. As a group, analysts forecast that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares of the company's stock, valued at $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 600,547 shares of company stock valued at $16,255,540. 11.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently bought and sold shares of GOOGL. EMC Capital Management acquired a new stake in shares of Alphabet during the fourth quarter worth about $33,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $32,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet during the 4th quarter worth approximately $38,000. Bard Associates Inc. bought a new stake in Alphabet during the 4th quarter worth approximately $52,000. Finally, Kentucky Trust Co raised its holdings in Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after buying an additional 100 shares during the period. Institutional investors own 40.03% of the company's stock.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source