Alphabet (NASDAQ:GOOG) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Alphabet (NASDAQ:GOOG) from a hold rating to a strong-buy rating in a report issued on Tuesday morning, Zacks.com reports. Seaport Res Ptn also issued estimates for Alphabet’s Q4 2024 earnings at $2.13 EPS, FY2024 earnings at $8.02 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.23 EPS, Q4 2025 earnings at $2.36 EPS and FY2025 earnings at $8.73 EPS.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup upped their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday. Canaccord Genuity Group upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Shares of GOOG opened at $172.69 on Tuesday. Alphabet has a 12 month low of $123.93 and a 12 month high of $193.31. 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 stock has a fifty day moving average price of $163.71 and a 200 day moving average price of $170.32. The company has a market cap of $2.13 trillion, a P/E ratio of 26.49, a PEG ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 EPS. On average, research analysts forecast that Alphabet will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,744 shares of company stock worth $35,878,764 over the last quarter. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently modified their holdings of GOOG. Abich Financial Wealth Management LLC grew its holdings in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the 2nd quarter worth $37,000. HWG Holdings LP purchased a new position in shares of Alphabet in the second quarter worth about $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP lifted its position in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. 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.