Alphabet Inc. (NASDAQ:GOOG – Get Free Report)’s stock price was down 0.1% on Tuesday following insider selling activity. The company traded as low as $191.68 and last traded at $192.19. Approximately 2,727,792 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 14,674,706 shares. The stock had previously closed at $192.29.
Specifically, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on GOOG shares. Scotiabank assumed coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. UBS Group upped their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.56.
Alphabet Stock Performance
The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $184.95 and a 200 day simple moving average of $174.55. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.99.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company 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 company posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of GOOG. FMR LLC grew its stake in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after buying an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 valued at $5,573,125,000 after acquiring an additional 3,113,395 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Alphabet by 9.1% during 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 acquiring an additional 1,291,274 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares during the last quarter. 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.
See Also
- Five stocks we like better than Alphabet
- Quiet Period Expirations Explained
- The Fed Is More Likely to Hike Than Cut Rates in 2025
- What is the Shanghai Stock Exchange Composite Index?
- Investors Navigate Uncertainty by Seeking Refuge in Gold and Oil
- How to Read Stock Charts for Beginners
- Archer Aviation Shares Slide, Now Bargain Priced for 2025
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.