Alphabet (NASDAQ:GOOG) Stock Price Up 1.4%

Alphabet Inc. (NASDAQ:GOOG)’s stock price shot up 1.4% during trading on Tuesday . The company traded as high as $183.44 and last traded at $183.41. 3,858,936 shares traded hands during trading, a decline of 82% from the average session volume of 21,309,023 shares. The stock had previously closed at $180.79.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Stock Down 0.1 %

The stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The firm’s fifty day moving average price is $172.69 and its two-hundred day moving average price is $154.76. 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:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the business earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold 146,284 shares of company stock valued at $24,534,393 in the last three months. 12.99% of the stock is currently owned by insiders.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently modified their holdings of the business. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the 4th quarter worth $26,000. Partnership Wealth Management LLC purchased a new position in Alphabet in the fourth quarter worth $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet in the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

About Alphabet

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.