Alphabet (NASDAQ:GOOGL) Trading Up 0.1%

Alphabet Inc. (NASDAQ:GOOGLGet Free Report)’s share price traded up 0.1% on Friday . The company traded as high as $177.87 and last traded at $176.82. 3,507,060 shares traded hands during trading, a decline of 88% from the average session volume of 29,159,543 shares. The stock had previously closed at $176.73.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOGL shares. Morgan Stanley reissued an “overweight” rating and set a $195.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Citigroup lifted their price target on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Argus boosted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Canaccord Genuity Group raised their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, TD Cowen boosted their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $191.57.

View Our Latest Report on Alphabet

Alphabet Stock Down 1.3 %

The stock’s fifty day simple moving average is $165.81 and its two-hundred day simple moving average is $149.64. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted 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 company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 300 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $149.50, for a total transaction of $74,750.00. Following the completion of the sale, the director now owns 8,791 shares of the company’s stock, valued at approximately $1,314,254.50. The disclosure for this sale can be found here. Insiders have sold a total of 157,758 shares of company stock valued at $25,580,826 in the last three months. 11.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet during the fourth quarter valued at about $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the 1st quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the 4th quarter worth approximately $38,000. Meritage Group LP lifted its holdings in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Institutional investors own 40.03% of the company’s stock.

About Alphabet

(Get Free Report)

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.

Further Reading

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