Alphabet (NASDAQ:GOOGL) Trading Up 1.1%

Alphabet Inc. (NASDAQ:GOOGL)’s stock price traded up 1.1% on Monday . The company traded as high as $187.32 and last traded at $187.12. 4,107,177 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 27,871,811 shares. The stock had previously closed at $185.07.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Wedbush increased their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Truist Financial increased their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Barclays increased their price target on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.06.

Alphabet Trading Up 0.6 %

The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $177.69 and a 200 day simple moving average of $157.89. The firm has a market cap of $2.30 trillion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the firm posted $1.17 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio is presently 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,988 shares of company stock worth $21,015,755. Corporate insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter worth $15,441,917,000. Capital Research Global Investors increased its stake in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Alphabet by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after acquiring an additional 1,472,043 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

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.