Alphabet (NASDAQ:GOOG) Trading Up 0.4%

Shares of Alphabet Inc. (NASDAQ:GOOG) were up 0.4% during mid-day trading on Friday . The stock traded as high as $164.71 and last traded at $163.83. Approximately 5,652,409 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 20,008,590 shares. The stock had previously closed at $163.24.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOG. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Oppenheimer upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Alphabet Price Performance

The firm has a 50 day moving average price of $166.71 and a 200 day moving average price of $166.58. The stock has a market capitalization of $2.03 trillion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the company earned $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,667 shares of company stock valued at $33,964,256. Corporate insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gilbert & Cook Inc. grew its stake in shares of Alphabet by 15.5% during the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after buying an additional 3,924 shares during the last quarter. Concentrum Wealth Management grew its position in Alphabet by 25.0% in the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after acquiring an additional 3,283 shares during the last quarter. Aveo Capital Partners LLC lifted its position in shares of Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after purchasing an additional 154 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Alphabet during the fourth quarter worth $620,000. Finally, GW&K Investment Management LLC boosted its stake in shares of Alphabet by 13.3% during the fourth quarter. GW&K Investment Management LLC now owns 3,434 shares of the information services provider’s stock valued at $484,000 after purchasing an additional 402 shares during the period. 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.