Alphabet (NASDAQ:GOOG) Shares Up 0.6% – Time to Buy?

Shares of Alphabet Inc. (NASDAQ:GOOG) shot up 0.6% during trading on Tuesday . The company traded as high as $167.47 and last traded at $166.85. 2,999,101 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 19,493,498 shares. The stock had previously closed at $165.80.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOG. Pivotal Research began coverage on shares of Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. UBS Group cut their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm’s fifty day simple moving average is $163.28 and its 200 day simple moving average is $169.92.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the company posted $1.44 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were 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 owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were 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 owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. 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 company. Colonial River Wealth Management LLC boosted its holdings in Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after acquiring an additional 107 shares during the last quarter. Oak Ridge Investments LLC boosted its holdings in Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after acquiring an additional 8,201 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares during the last quarter. Alliance Wealth Management Group boosted its holdings in shares of Alphabet by 93.6% in the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after buying an additional 1,890 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Alphabet by 4.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after buying an additional 115,716 shares during the last quarter. 27.26% of the stock is 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.