Alphabet (NASDAQ:GOOG) Shares Up 0.1% – Here’s Why

Alphabet Inc. (NASDAQ:GOOGGet Free Report) shot up 0.1% on Thursday . The stock traded as high as $171.14 and last traded at $170.82. 12,433,371 shares traded hands during trading, a decline of 37% from the average session volume of 19,605,984 shares. The stock had previously closed at $170.62.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.56.

Check Out Our Latest Research Report on GOOG

Alphabet Price Performance

The stock has a market cap of $2.09 trillion, a PE ratio of 22.61, a P/E/G ratio of 1.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business has a 50 day moving average price of $169.98 and a two-hundred day moving average price of $171.84.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter valued at approximately $25,000. Abich Financial Wealth Management LLC raised its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the third quarter worth $33,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter worth $37,000. Finally, HWG Holdings LP purchased a new position in shares of Alphabet in the second quarter valued at $40,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Company Profile

(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.

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