Alphabet (NASDAQ:GOOGL) Trading 0.8% Higher

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) shares rose 0.8% on Tuesday . The stock traded as high as $177.27 and last traded at $176.41. Approximately 8,016,154 shares were traded during trading, a decline of 73% from the average daily volume of 29,478,979 shares. The stock had previously closed at $174.99.

Analysts Set New Price Targets

Several analysts have commented on GOOGL shares. Evercore ISI boosted their price target on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada boosted their target price on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Jefferies Financial Group lifted their price target on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company raised their price objective on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.57.

View Our Latest Research Report on Alphabet

Alphabet Stock Performance

The firm has a 50 day simple moving average of $162.48 and a 200-day simple moving average of $147.73. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.32 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:GOOGLGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period in the previous year, the firm earned $1.17 EPS. As a group, analysts predict that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,835 shares of company stock valued at $31,165,165. Corporate insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds have recently made changes to their positions in the company. Spear Holdings RSC Ltd acquired a new stake in Alphabet in the first quarter valued at about $39,302,000. Pathway Financial Advisers LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $437,000. Alexander Labrunerie & CO. Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $1,396,000. Boston Partners grew its holdings in Alphabet by 0.3% during the first quarter. Boston Partners now owns 7,728,741 shares of the information services provider’s stock worth $1,172,680,000 after acquiring an additional 23,723 shares during the period. Finally, Cetera Advisor Networks LLC raised its position in Alphabet by 5.6% in the first quarter. Cetera Advisor Networks LLC now owns 556,046 shares of the information services provider’s stock worth $83,924,000 after acquiring an additional 29,507 shares in the last quarter. 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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