Alphabet (NASDAQ:GOOG) Shares Up 1.6% – Here’s What Happened

by · The Markets Daily

Alphabet Inc. (NASDAQ:GOOG – Get Free Report)’s share price traded up 1.6% on Tuesday . The stock traded as high as $203.84 and last traded at $200.68. 5,869,727 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 15,193,589 shares. The stock had previously closed at $197.55.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of analyst reports. Oppenheimer boosted their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.56.

Check Out Our Latest Analysis on GOOG

Alphabet Trading Up 1.5 %

The business has a fifty day moving average of $186.23 and a 200-day moving average of $174.83. The company has a market capitalization of $2.45 trillion, a P/E ratio of 26.59, a PEG ratio of 1.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in GOOG. FMR LLC increased its stake in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after purchasing an additional 3,113,395 shares during the last quarter. Jennison Associates LLC boosted its stake in Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after buying an additional 1,291,274 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

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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