Alphabet (NASDAQ:GOOGL) Announces Earnings Results

Alphabet (NASDAQ:GOOGL) issued its earnings results on Tuesday. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03, Zacks reports. Alphabet had a return on equity of 31.66% and a net margin of 27.74%.

Alphabet Stock Up 2.6 %

GOOGL stock traded up $5.15 during mid-day trading on Tuesday, reaching $206.38. 38,809,911 shares of the company traded hands, compared to its average volume of 25,751,896. The stock has a market cap of $2.53 trillion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.31 and a beta of 0.99. Alphabet has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The firm’s 50 day moving average price is $189.64 and its 200 day moving average price is $174.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,529 shares of company stock valued at $22,453,483 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Cantor Fitzgerald decreased their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada upped their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. KeyCorp raised their price objective on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Truist Financial increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

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.