Alphabet Inc. (NASDAQ:GOOG - Get Free Report)'s stock price traded up 0.7% on Tuesday after Oppenheimer raised their price target on the stock from $172.00 to $185.00. Oppenheimer currently has an outperform rating on the stock. Alphabet traded as high as $159.89 and last traded at $157.30. 8,282,776 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 22,562,502 shares. The stock had previously closed at $156.14.
Other equities analysts have also recently issued research reports about the company. Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 24th. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a "positive" rating in a research report on Wednesday, January 31st.
Check Out Our Latest Analysis on GOOG
Insider Buying and Selling
In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the company's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company's stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the completion of the transaction, the director now owns 6,784 shares of the company's stock, valued at approximately $973,436.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company's stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,739 shares of company stock valued at $35,934,957. Insiders own 12.99% of the company's stock.
Hedge Funds Weigh In On Alphabet
Large investors have recently added to or reduced their stakes in the company. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. Partnership Wealth Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $26,000. Finally, Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Stock Performance
The company has a market capitalization of $1.97 trillion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The firm has a 50 day moving average price of $145.41 and a two-hundred day moving average price of $140.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company's revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. On average, research analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.
About Alphabet
(
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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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