Alphabet (NASDAQ:GOOG) Shares Up 0.1% – What’s Next?

Alphabet Inc. (NASDAQ:GOOG)’s stock price was up 0.1% on Friday . The company traded as high as $173.80 and last traded at $172.83. Approximately 7,662,266 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 19,643,105 shares. The stock had previously closed at $172.69.

Analyst Ratings Changes

A number of research analysts recently issued reports on GOOG shares. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Finally, TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Trading Up 0.2 %

The stock has a market capitalization of $2.13 trillion, a PE ratio of 22.97, a P/E/G ratio of 1.31 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $163.71 and a 200-day moving average price of $170.32.

Alphabet (NASDAQ:GOOG) last released 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. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.83 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is presently 10.61%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,244 shares of company stock valued at $37,776,954 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several large investors have recently made changes to their positions in GOOG. Plimoth Trust Co. LLC increased its holdings in shares of Alphabet by 1.0% in the first quarter. Plimoth Trust Co. LLC now owns 14,170 shares of the information services provider’s stock worth $2,158,000 after purchasing an additional 135 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new stake in Alphabet in the 1st quarter worth approximately $248,000. Monument Capital Management raised its holdings in shares of Alphabet by 5.6% during the 1st quarter. Monument Capital Management now owns 3,517 shares of the information services provider’s stock worth $535,000 after acquiring an additional 188 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Alphabet by 12.1% during the 1st quarter. Sivia Capital Partners LLC now owns 20,700 shares of the information services provider’s stock valued at $3,152,000 after acquiring an additional 2,231 shares during the last quarter. Finally, Tradewinds Capital Management LLC grew its holdings in shares of Alphabet by 11.8% in the first quarter. Tradewinds Capital Management LLC now owns 4,395 shares of the information services provider’s stock valued at $669,000 after purchasing an additional 464 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Company Profile

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.