Alphabet (NASDAQ:GOOGL) Trading Up 1.2% – What’s Next?

Alphabet Inc. (NASDAQ:GOOGL)’s share price traded up 1.2% during trading on Monday . The company traded as high as $175.08 and last traded at $174.71. 21,462,393 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 24,893,816 shares. The stock had previously closed at $172.64.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOGL. Bank of America increased their target price on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital raised their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. JMP Securities lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. KeyCorp upped their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Up 1.2 %

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 market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a fifty day moving average of $169.51 and a two-hundred day moving average of $170.20.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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 business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,624 shares of company stock valued at $27,803,730. 11.55% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently modified their holdings of the business. FFG Partners LLC increased its stake in shares of Alphabet by 1.6% during the 3rd quarter. FFG Partners LLC now owns 77,642 shares of the information services provider’s stock worth $12,877,000 after purchasing an additional 1,186 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Alphabet during the 3rd quarter valued at $36,085,000. Garde Capital Inc. increased its position in Alphabet by 1.2% during the third quarter. Garde Capital Inc. now owns 53,440 shares of the information services provider’s stock worth $8,863,000 after buying an additional 645 shares in the last quarter. Boulder Wealth Advisors LLC acquired a new position in shares of Alphabet in the third quarter worth $244,000. Finally, Beaird Harris Wealth Management LLC lifted its position in shares of Alphabet by 15.3% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,763 shares of the information services provider’s stock valued at $458,000 after acquiring an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 40.03% 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.