Alphabet (NASDAQ:GOOG) Shares Up 0.4% – Here’s Why

Shares of Alphabet Inc. (NASDAQ:GOOG) were up 0.4% during trading on Tuesday . The company traded as high as $169.09 and last traded at $167.08. Approximately 4,075,822 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 19,665,168 shares. The stock had previously closed at $166.35.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GOOG shares. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Scotiabank initiated coverage on Alphabet in a report on Friday. They issued a “sector outperform” rating and a $212.00 target price on the stock. Finally, Oppenheimer decreased their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Stock Performance

The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a fifty day moving average of $162.92 and a two-hundred day moving average of $169.47.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the transaction, the chief executive officer now owns 2,129,306 shares in the company, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,092 shares of company stock valued at $35,644,136. Insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently bought and sold shares of GOOG. Richardson Financial Services Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Abich Financial Wealth Management LLC lifted its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $40,000. Finally, Slocum Gordon & Co LLP bought a new position in Alphabet during the second quarter worth $44,000. Institutional investors own 27.26% 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.