Alphabet (NASDAQ:GOOGL) Trading 0.5% Higher Following Analyst Upgrade

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) shares traded up 0.5% during trading on Wednesday after TD Securities raised their price target on the stock from $200.00 to $220.00. The stock traded as high as $190.88 and last traded at $189.96. 3,806,523 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 28,015,613 shares. The stock had previously closed at $188.98.

A number of other analysts have also recently issued reports on GOOGL. Tigress Financial boosted their target price on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, May 24th. TD Cowen boosted their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Mizuho boosted their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Robert W. Baird boosted their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $195.06.

Get Our Latest Report on GOOGL

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,788 shares of company stock valued at $21,143,403. 11.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Several institutional investors have recently modified their holdings of GOOGL. Public Sector Pension Investment Board lifted its holdings in shares of Alphabet by 31.8% during the third quarter. Public Sector Pension Investment Board now owns 2,710,105 shares of the information services provider’s stock valued at $354,644,000 after purchasing an additional 654,278 shares during the last quarter. Polar Capital Holdings Plc lifted its holdings in shares of Alphabet by 5.0% during the third quarter. Polar Capital Holdings Plc now owns 2,733,651 shares of the information services provider’s stock valued at $357,726,000 after purchasing an additional 129,502 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Alphabet by 16,618.9% during the third quarter. EP Wealth Advisors LLC now owns 835,947 shares of the information services provider’s stock valued at $109,392,000 after purchasing an additional 830,947 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Alphabet by 0.6% during the third quarter. Trust Co. of Vermont now owns 88,235 shares of the information services provider’s stock valued at $11,546,000 after purchasing an additional 522 shares during the last quarter. Finally, Okabena Investment Services Inc. lifted its holdings in shares of Alphabet by 1,880.0% during the third quarter. Okabena Investment Services Inc. now owns 2,574 shares of the information services provider’s stock valued at $337,000 after purchasing an additional 2,444 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

The firm has a fifty day moving average price of $176.95 and a 200 day moving average price of $157.15. The firm has a market capitalization of $2.36 trillion, a PE ratio of 29.32, a P/E/G ratio of 1.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the business earned $1.17 EPS. Research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

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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