Alphabet (NASDAQ:GOOGL) Trading 0.7% Higher – Should You Buy?

Shares of Alphabet Inc. (NASDAQ:GOOGL) were up 0.7% during mid-day trading on Tuesday . The stock traded as high as $165.77 and last traded at $165.19. Approximately 4,953,022 shares were traded during trading, a decline of 82% from the average daily volume of 26,880,938 shares. The stock had previously closed at $164.07.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Mizuho upped their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Thursday, September 5th. Finally, Bank of America lifted their price target on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Up 0.4 %

The firm has a 50 day simple moving average of $161.80 and a 200-day simple moving average of $168.35. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.04 trillion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued 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. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last three months. 11.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the company. Litman Gregory Wealth Management LLC lifted its holdings in Alphabet by 4.9% during the third quarter. Litman Gregory Wealth Management LLC now owns 62,783 shares of the information services provider’s stock valued at $10,413,000 after purchasing an additional 2,930 shares during the last quarter. Altus Wealth Group LLC boosted its position in Alphabet by 1.9% during the 3rd quarter. Altus Wealth Group LLC now owns 13,736 shares of the information services provider’s stock valued at $2,278,000 after acquiring an additional 254 shares in the last quarter. TFG Advisers LLC increased its position in Alphabet by 3.2% during the 3rd quarter. TFG Advisers LLC now owns 23,569 shares of the information services provider’s stock valued at $3,909,000 after buying an additional 740 shares in the last quarter. Greenleaf Trust raised its position in Alphabet by 6.7% in the 3rd quarter. Greenleaf Trust now owns 285,787 shares of the information services provider’s stock worth $47,398,000 after buying an additional 17,851 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Alphabet by 2.7% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,452,313 shares of the information services provider’s stock valued at $240,866,000 after acquiring an additional 37,660 shares during the period. Institutional investors own 40.03% of the company’s stock.

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.