Alphabet (NASDAQ:GOOGL) Shares Up 2% - Should You Buy?

Shares of Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) shot up 2% on Tuesday . The company traded as high as $173.00 and last traded at $171.81. 12,344,695 shares traded hands during trading, a decline of 58% from the average session volume of 29,685,310 shares. The stock had previously closed at $168.47.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and set a $178.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Wells Fargo & Company raised their target price on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Morgan Stanley dropped their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Jefferies Financial Group dropped their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Cantor Fitzgerald lowered their price target on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Stock Up 0.1%

The business has a fifty day moving average of $158.87 and a 200 day moving average of $174.75. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.10 trillion, a PE ratio of 21.49, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the business earned $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction dated 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 directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director now owns 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,654 shares of company stock valued at $26,793,380. Insiders own 11.55% of the company's stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Bennett Selby Investments LP grew its position in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after buying an additional 52 shares during the last quarter. Macroview Investment Management LLC grew its stake in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after buying an additional 52 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after buying an additional 53 shares during the last quarter. Addison Advisors LLC grew its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after buying an additional 53 shares during the last quarter. Finally, Burt Wealth Advisors grew its stake in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after buying an additional 54 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

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.