Shares of Alphabet Inc. (NASDAQ:GOOG - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $201.03 and last traded at $200.01, with a volume of 2325609 shares traded. The stock had previously closed at $198.16.
Wall Street Analyst Weigh In
Several research firms have commented on GOOG. Pivotal Research increased their target price on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Citigroup raised their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $200.56.
Read Our Latest Report on Alphabet
Alphabet Stock Down 0.5 %
The firm has a market capitalization of $2.41 trillion, a PE ratio of 26.30, a PEG ratio of 1.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company's 50 day simple moving average is $173.87 and its 200-day simple moving average is $172.32.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm earned $1.55 EPS. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet's dividend payout ratio (DPR) is 10.61%.
Insider Buying and Selling at Alphabet
In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares of the company's stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now directly owns 23,324 shares of the company's stock, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock valued at $34,413,006 in the last 90 days. Insiders own 12.99% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider's stock valued at $1,052,349,000 after acquiring an additional 2,500,621 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Alphabet by 27.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider's stock worth $1,375,512,000 after purchasing an additional 1,632,691 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Alphabet by 182.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider's stock worth $422,331,000 after purchasing an additional 1,630,701 shares during the period. Institutional investors own 27.26% 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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