Alphabet (NASDAQ:GOOGL) Stock Price Up 0.7% on Analyst Upgrade

Alphabet Inc. (NASDAQ:GOOGLGet Free Report)’s stock price rose 0.7% on Tuesday after TD Securities raised their price target on the stock from $200.00 to $220.00. The stock traded as high as $191.36 and last traded at $190.30. Approximately 5,158,554 shares were traded during trading, a decline of 82% from the average daily volume of 28,125,047 shares. The stock had previously closed at $189.03.

GOOGL has been the topic of several other reports. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Canaccord Genuity Group raised their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wolfe Research raised their target price on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Morgan Stanley reissued an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, June 28th. Six analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $195.06.

View Our Latest Stock Report on Alphabet

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,788 shares of company stock valued at $21,143,403. 11.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Several institutional investors have recently bought and sold shares of the business. RWQ Financial Management Services Inc. raised its position in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management boosted its position in shares of Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after acquiring an additional 76,410 shares in the last quarter. Robbins Farley boosted its position in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after acquiring an additional 118 shares in the last quarter. Nebula Research & Development LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $787,000. Finally, CKW Financial Group boosted its position in shares of Alphabet by 5.8% during the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after acquiring an additional 760 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.2 %

The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a 50-day moving average price of $176.95 and a 200-day moving average price of $157.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the business earned $1.17 EPS. As a group, research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Alphabet Company Profile

(Get Free Report)

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.

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