Alphabet Inc. (NASDAQ:GOOGL - Get Free Report)'s stock price shot up 1.9% during trading on Thursday after Tigress Financial raised their price target on the stock from $220.00 to $240.00. Tigress Financial currently has a strong-buy rating on the stock. Alphabet traded as high as $161.19 and last traded at $161.87. 8,560,233 shares changed hands during trading, a decline of 70% from the average session volume of 28,152,682 shares. The stock had previously closed at $158.80.
Several other research analysts have also commented on GOOGL. Wells Fargo & Company upped their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Susquehanna decreased their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday, April 25th. Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Truist Financial decreased their price target on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Citigroup increased their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.46.
Check Out Our Latest Report on GOOGL
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares of the company's stock, valued at $7,997,521.61. This represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,053 shares of company stock valued at $25,339,647. 11.55% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Riversedge Advisors LLC boosted its holdings in Alphabet by 3.0% in the 1st quarter. Riversedge Advisors LLC now owns 8,892 shares of the information services provider's stock worth $1,375,000 after buying an additional 261 shares during the period. Fortem Financial Group LLC boosted its holdings in Alphabet by 7.4% in the 1st quarter. Fortem Financial Group LLC now owns 20,520 shares of the information services provider's stock worth $3,173,000 after buying an additional 1,405 shares during the period. Beirne Wealth Consulting Services LLC boosted its holdings in Alphabet by 28.9% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 5,080 shares of the information services provider's stock worth $786,000 after buying an additional 1,140 shares during the period. IFC Advisors LLC boosted its holdings in Alphabet by 3.6% in the 1st quarter. IFC Advisors LLC now owns 36,005 shares of the information services provider's stock worth $5,568,000 after buying an additional 1,256 shares during the period. Finally, Omega Financial Group LLC boosted its holdings in Alphabet by 5.6% in the 1st quarter. Omega Financial Group LLC now owns 2,147 shares of the information services provider's stock worth $332,000 after buying an additional 114 shares during the period. Institutional investors own 40.03% of the company's stock.
Alphabet Price Performance
The firm's fifty day moving average is $160.78 and its two-hundred day moving average is $175.37. The company has a market cap of $1.97 trillion, a P/E ratio of 20.08, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate 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 $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.
About Alphabet
(
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.
See Also
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