Alphabet (NASDAQ:GOOGL) Trading 0.7% Higher

Shares of Alphabet Inc. (NASDAQ:GOOGL) rose 0.7% during trading on Tuesday . The company traded as high as $151.24 and last traded at $151.07. Approximately 4,885,383 shares traded hands during trading, a decline of 84% from the average daily volume of 31,135,494 shares. The stock had previously closed at $150.07.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Roth Mkm decreased their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Truist Financial lowered their target price on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Susquehanna raised their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. JMP Securities lifted their target price on Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Finally, StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.48.

Alphabet Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market cap of $1.88 trillion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The firm’s 50-day moving average is $143.33 and its 200 day moving average is $138.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period last year, the company posted $1.05 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total transaction of $59,334.25. Following the sale, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The disclosure for this sale can be found here. Insiders sold 251,378 shares of company stock valued at $35,461,377 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several institutional investors and hedge funds have recently made changes to their positions in the business. DE Burlo Group Inc. raised its holdings in shares of Alphabet by 520.0% during the second quarter. DE Burlo Group Inc. now owns 96,498 shares of the information services provider’s stock worth $11,551,000 after purchasing an additional 80,934 shares during the period. West Tower Group LLC bought a new position in Alphabet in the second quarter worth about $88,000. Ballast Advisors LLC boosted its stake in Alphabet by 9.6% in the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC grew its holdings in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.