Alphabet Inc. (NASDAQ:GOOG - Get Free Report) fell 0.3% on Thursday . The stock traded as low as $169.93 and last traded at $170.69. 3,774,367 shares traded hands during trading, a decline of 83% from the average session volume of 22,429,131 shares. The stock had previously closed at $171.16.
Analysts Set New Price Targets
A number of research firms have recently commented on GOOG. Morgan Stanley reissued an "overweight" rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, January 31st. Raymond James increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. Finally, Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the company an "outperform" rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $165.67.
Read Our Latest Stock Report on GOOG
Alphabet Price Performance
The firm has a 50-day moving average of $153.41 and a 200-day moving average of $144.40. The stock has a market cap of $2.12 trillion, a PE ratio of 26.32, a PEG ratio of 1.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analysts' expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet's quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the company posted $1.17 earnings per share. Research analysts predict that Alphabet Inc. will post 7.66 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a -- dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. Alphabet's dividend payout ratio (DPR) is presently 12.27%.
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares of the company's stock, valued at $3,903,886.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 252,629 shares of company stock worth $37,091,240. Corporate insiders own 12.99% of the company's stock.
Hedge Funds Weigh In On Alphabet
Large investors have recently bought and sold shares of the business. Private Portfolio Partners LLC raised its stake in shares of Alphabet by 24.6% during the 1st quarter. Private Portfolio Partners LLC now owns 4,752 shares of the information services provider's stock worth $724,000 after acquiring an additional 938 shares in the last quarter. Element Capital Management LLC acquired a new position in shares of Alphabet during the first quarter worth $2,818,000. Wilkins Investment Counsel Inc. lifted its holdings in shares of Alphabet by 161.0% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 4,072 shares of the information services provider's stock valued at $620,000 after purchasing an additional 2,512 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Alphabet by 1.2% in the 1st quarter. HBK Sorce Advisory LLC now owns 54,394 shares of the information services provider's stock worth $8,282,000 after purchasing an additional 631 shares in the last quarter. Finally, Midwest Professional Planners LTD. grew its stake in Alphabet by 66.9% during the 1st quarter. Midwest Professional Planners LTD. now owns 7,737 shares of the information services provider's stock worth $1,178,000 after buying an additional 3,100 shares during the last quarter. Institutional investors own 27.26% 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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