Alphabet (NASDAQ:GOOGL) Trading Up 1.5%

Alphabet Inc. (NASDAQ:GOOGL) shares were up 1.5% during mid-day trading on Tuesday . The company traded as high as $171.09 and last traded at $170.55. Approximately 9,544,364 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 30,514,707 shares. The stock had previously closed at $168.10.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wolfe Research boosted their price objective on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. KeyCorp lifted their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Finally, Loop Capital raised their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Alphabet Price Performance

The stock has a fifty day moving average of $150.75 and a 200-day moving average of $142.58. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 26.14, a PEG ratio of 1.28 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the business posted $1.17 earnings per share. Equities analysts predict that Alphabet Inc. will post 7.57 EPS 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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John Kent Walker sold 48,076 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the transaction, the insider now directly owns 12,725 shares of the company’s stock, valued at $1,809,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock worth $40,382,765 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Primoris Wealth Advisors LLC increased its position in shares of Alphabet by 5.6% during the 1st quarter. Primoris Wealth Advisors LLC now owns 4,810 shares of the information services provider’s stock worth $724,000 after purchasing an additional 256 shares during the last quarter. Foyston Gordon & Payne Inc raised its position in Alphabet by 16.7% during the first quarter. Foyston Gordon & Payne Inc now owns 109,500 shares of the information services provider’s stock worth $16,527,000 after acquiring an additional 15,658 shares in the last quarter. Horizon Investment Services LLC lifted its stake in Alphabet by 1.0% in the first quarter. Horizon Investment Services LLC now owns 43,441 shares of the information services provider’s stock valued at $6,557,000 after acquiring an additional 445 shares during the last quarter. 49 Wealth Management LLC grew its position in shares of Alphabet by 20.4% in the 1st quarter. 49 Wealth Management LLC now owns 7,499 shares of the information services provider’s stock valued at $1,166,000 after acquiring an additional 1,272 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.