Alphabet (NASDAQ:GOOG) Shares Up 2.8% – What’s Next?

Alphabet Inc. (NASDAQ:GOOG) traded up 2.8% on Monday . The stock traded as high as $199.56 and last traded at $198.63. 5,273,919 shares changed hands during trading, a decline of 55% from the average session volume of 11,718,202 shares. The stock had previously closed at $193.13.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

The firm has a market capitalization of $2.39 trillion, a P/E ratio of 25.91, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day moving average of $182.87 and a two-hundred day moving average of $174.23.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,887 shares of company stock worth $27,996,356. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Large investors have recently added to or reduced their stakes in the company. Hanlon Investment Management Inc. raised its holdings in shares of Alphabet by 12.3% in the 2nd quarter. Hanlon Investment Management Inc. now owns 2,300 shares of the information services provider’s stock worth $422,000 after buying an additional 252 shares in the last quarter. Intelligence Driven Advisers LLC increased its holdings in shares of Alphabet by 42.8% during the second quarter. Intelligence Driven Advisers LLC now owns 8,669 shares of the information services provider’s stock worth $1,590,000 after buying an additional 2,597 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Alphabet by 0.7% in the second quarter. Illinois Municipal Retirement Fund now owns 318,201 shares of the information services provider’s stock valued at $58,364,000 after acquiring an additional 2,349 shares during the last quarter. One Wealth Management Investment & Advisory Services LLC boosted its holdings in shares of Alphabet by 3.4% in the 2nd quarter. One Wealth Management Investment & Advisory Services LLC now owns 18,021 shares of the information services provider’s stock worth $3,305,000 after acquiring an additional 592 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its position in Alphabet by 1.7% during the 2nd quarter. Great Lakes Advisors LLC now owns 262,800 shares of the information services provider’s stock worth $48,203,000 after acquiring an additional 4,337 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Company Profile

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.