Alphabet (NASDAQ:GOOGL) Trading Up 1%

Alphabet Inc stock price (NASDAQ:GOOGL – Get Free Report ) traded up 1% during trading on Monday. The company traded as high as $163.66 and last traded at $163.38. 22,123,799 shares changed hands in mid-day trading, down 20% from the session’s average volume of 27,633,090 shares. Shares previously closed at $161.78.

Analysts set new price targets

GOOGL has been the subject of several recent analyst reports. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Tuesday, July 30th. Morgan Stanley reduced their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday. BMO Capital Markets restated an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a report on Tuesday, August 6th. Argus boosted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.17, based on data from MarketBeat.

Get the latest research report on GOOGL

Alphabet stock down 3.7%

The stock has a market cap of $1.94 trillion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08, and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $172.59 and a 200-day moving average price of $164.17.

Alphabet (NASDAQ:GOOGL – Get Your Free Report ) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. In the same quarter last year, the firm posted EPS of $1.44. As a group, analysts estimate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabetical announcement of dividends

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,065 shares of company stock worth $22,841,690. 11.55% of shares are owned by insiders.

Institutional trading of the alphabet

A number of hedge funds and other institutional investors have recently modified their holdings of GOOGL. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter valued at $15,441,917,000. Capital Research Global Investors boosted its holdings in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, Wulff Hansen & CO. raised its holdings in shares of Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the period. 40.03% of the shares are owned by institutional investors and hedge funds.

Alphabet Company Profile

(Get a free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

Featured stories

Get news and reviews for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.