Alphabet Inc. (NASDAQ:GOOGL - Get Free Report)'s stock price traded up 2.2% during mid-day trading on Monday . The stock traded as high as $194.58 and last traded at $193.35. 11,311,391 shares were traded during trading, a decline of 69% from the average session volume of 36,983,992 shares. The stock had previously closed at $189.13.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Morgan Stanley lifted their price objective on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. BMO Capital Markets lifted their price objective on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Bank of America lifted their price objective on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.
View Our Latest Research Report on Alphabet
Alphabet Stock Up 0.0%
The stock has a 50 day moving average of $178.85 and a 200-day moving average of $172.81. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 20.77, a PEG ratio of 1.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business 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 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is currently 8.95%.
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The shares were 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 of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,399 shares of company stock worth $43,525,794. 11.55% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alphabet
Institutional investors and hedge funds have recently modified their holdings of the company. Eagle Capital Management LLC increased its stake in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC increased its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares in the last quarter. Highview Capital Management LLC DE increased its position in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC increased its position in Alphabet by 22.7% during the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after buying an additional 13,564 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
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.
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