Alphabet (NASDAQ:GOOGL) Stock Price Up 0.1%

Alphabet Inc. (NASDAQ:GOOGL) traded up 0.1% during trading on Wednesday . The stock traded as high as $160.22 and last traded at $159.45. 4,373,477 shares were traded during mid-day trading, a decline of 84% from the average session volume of 27,555,559 shares. The stock had previously closed at $159.32.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Cantor Fitzgerald began coverage on shares of Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price target for the company. Truist Financial reiterated a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research note on Monday. Jefferies Financial Group boosted their price objective on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Evercore ISI lowered their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Stock Up 1.5 %

The stock has a market cap of $2.00 trillion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business has a fifty day moving average of $165.15 and a 200-day moving average of $165.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the company posted $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock worth $29,762,606 in the last three months. 11.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in Alphabet in the 2nd quarter worth approximately $36,000. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter valued at approximately $30,000. Finally, Denver PWM LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Alphabet

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.