Alphabet Inc. (NASDAQ:GOOGL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $175.78 and last traded at $175.75, with a volume of 5429841 shares trading hands. The stock had previously closed at $174.18.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several recent analyst reports. Loop Capital boosted their target price on Alphabet from $155.00 to $170.00 and gave the stock a "hold" rating in a research report on Wednesday, May 1st. TD Cowen raised their target price on Alphabet from $170.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 26th. Stifel Nicolaus reiterated a "buy" rating and issued a $196.00 price target on shares of Alphabet in a report on Wednesday. Argus boosted their price target on Alphabet from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group increased their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $190.60.
Read Our Latest Report on GOOGL
Alphabet Stock Up 1.1 %
The stock's fifty day simple moving average is $157.22 and its two-hundred day simple moving average is $145.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.00, a PEG ratio of 1.32 and a beta of 1.02.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts' expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the firm earned $1.17 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet's dividend payout ratio (DPR) is presently 12.27%.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the sale, the chief executive officer now directly owns 2,258,011 shares in the company, valued at $391,132,665.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company's stock, valued at $3,903,886.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the sale, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders have sold a total of 276,511 shares of company stock worth $41,234,695 in the last three months. 0.88% of the stock is owned by company insiders.
Institutional Investors Weigh In On Alphabet
A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. Joseph P. Lucia & Associates LLC boosted its stake in shares of Alphabet by 1.0% during the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider's stock valued at $1,000,000 after purchasing an additional 64 shares in the last quarter. M. Kraus & Co grew its holdings in Alphabet by 1.1% during the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider's stock worth $946,000 after acquiring an additional 66 shares during the last quarter. Wynn Capital LLC increased its position in Alphabet by 3.9% in the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider's stock valued at $267,000 after acquiring an additional 67 shares during the period. Aire Advisors LLC raised its stake in shares of Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider's stock valued at $1,645,000 after acquiring an additional 68 shares during the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of Alphabet by 2.1% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider's stock worth $511,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds 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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