Shares of Alphabet Inc. (NASDAQ:GOOG - Get Free Report) were up 1.6% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $160.38 and last traded at $160.20. Approximately 5,252,417 shares changed hands during trading, a decline of 73% from the average daily volume of 19,363,794 shares. The stock had previously closed at $157.72.
The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.77. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet's dividend payout ratio is presently 9.94%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on GOOG shares. Rosenblatt Securities restated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday. Westpark Capital reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday. Finally, Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.94.
Read Our Latest Stock Report on GOOG
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,163 shares of company stock worth $25,361,647. 12.99% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Alphabet
Several hedge funds and other institutional investors have recently bought and sold shares of GOOG. Principia Wealth Advisory LLC raised its position in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $26,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $27,000. LSV Asset Management acquired a new stake in Alphabet during the fourth quarter worth about $27,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Performance
The stock's 50-day moving average is $164.25 and its 200-day moving average is $177.16. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.34 and a beta of 1.04.
About Alphabet
(
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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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