Alphabet (NASDAQ:GOOG) Trading 0.1% Higher

Alphabet Inc. (NASDAQ:GOOG)’s stock price was up 0.1% on Thursday . The company traded as high as $169.42 and last traded at $167.84. Approximately 2,420,174 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 20,244,188 shares. The stock had previously closed at $167.63.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $182.86.

Alphabet Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business’s fifty day simple moving average is $176.34 and its 200 day simple moving average is $164.50. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 EPS. On average, research analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,065 shares of company stock valued at $31,025,543. Insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently modified their holdings of GOOG. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its stake 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 purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new position in shares of Alphabet during the 2nd quarter valued at $40,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter worth $32,000. 27.26% of the stock is currently owned by institutional investors.

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.