Alphabet Inc. (NASDAQ:GOOG - Get Free Report)'s share price was up 0% during mid-day trading on Tuesday . The company traded as high as $178.50 and last traded at $176.86. Approximately 3,420,188 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 19,507,098 shares. The stock had previously closed at $176.80.
Analyst Upgrades and Downgrades
GOOG has been the topic of several recent analyst reports. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Citigroup increased their target price on Alphabet from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $200.56.
Check Out Our Latest Analysis on GOOG
Alphabet Trading Up 1.7 %
The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $167.56 and a 200-day moving average price of $171.80. The firm has a market capitalization of $2.20 trillion, a PE ratio of 23.46, a P/E/G ratio of 1.22 and a beta of 1.04.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm posted $1.55 EPS. The business's revenue was up 15.1% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. This represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,471,141 in the last ninety days. Corporate insiders own 12.99% of the company's stock.
Hedge Funds Weigh In On Alphabet
Hedge funds have recently bought and sold shares of the stock. Swedbank AB acquired a new position in Alphabet in the 1st quarter valued at about $1,378,708,000. Capital International Investors raised its holdings in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider's stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares during the last quarter. FMR LLC lifted its stake in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Alphabet by 10.3% in the third 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 valued at $5,573,125,000 after purchasing an additional 3,113,395 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Alphabet by 65.9% in the third 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 purchasing an additional 2,500,621 shares during the last quarter. Hedge funds and other 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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