Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) shares were down 0.7% during trading on Tuesday . The company traded as low as $175.58 and last traded at $176.02. Approximately 5,218,833 shares traded hands during trading, a decline of 82% from the average daily volume of 28,719,607 shares. The stock had previously closed at $177.24.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. JMP Securities reiterated a "market outperform" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Roth Mkm lifted their price target on shares of Alphabet from $164.00 to $202.00 and gave the stock a "buy" rating in a research report on Friday, April 26th. Evercore ISI upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday, June 11th. Robert W. Baird boosted their target price on Alphabet from $160.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 26th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $215.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $193.26.
Check Out Our Latest Report on Alphabet
Alphabet Trading Down 1.2 %
The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.33 and a beta of 1.01. The business has a fifty day simple moving average of $168.90 and a 200-day simple moving average of $151.73.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts' expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the company posted $1.17 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet's payout ratio is 12.27%.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares of the company's stock, valued at approximately $343,710,216.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company's stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock worth $25,731,103 over the last three months. 11.55% of the stock is owned by company insiders.
Hedge Funds Weigh In On Alphabet
Large investors have recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC boosted its position in Alphabet by 17.0% in the third quarter. WealthPlan Investment Management LLC now owns 13,891 shares of the information services provider's stock worth $1,818,000 after purchasing an additional 2,017 shares during the last quarter. Beverly Hills Private Wealth LLC grew its position in Alphabet by 5.7% during the third quarter. Beverly Hills Private Wealth LLC now owns 9,674 shares of the information services provider's stock valued at $1,266,000 after buying an additional 520 shares during the period. Shepherd Financial Partners LLC increased its holdings in Alphabet by 13.3% during the third quarter. Shepherd Financial Partners LLC now owns 28,628 shares of the information services provider's stock worth $3,746,000 after buying an additional 3,363 shares during the last quarter. Chase Investment Counsel Corp raised its position in Alphabet by 17.8% in the third quarter. Chase Investment Counsel Corp now owns 58,222 shares of the information services provider's stock worth $7,618,000 after acquiring an additional 8,812 shares during the period. Finally, Bell Investment Advisors Inc boosted its stake in Alphabet by 2.5% in the third quarter. Bell Investment Advisors Inc now owns 8,763 shares of the information services provider's stock valued at $1,147,000 after acquiring an additional 216 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
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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