Alphabet (NASDAQ:GOOG) Shares Up 1.6% – Still a Buy?

Alphabet Inc. (NASDAQ:GOOGGet Free Report) was up 1.6% during mid-day trading on Monday . The company traded as high as $336.35 and last traded at $333.59. Approximately 17,964,506 shares changed hands during trading, a decline of 15% from the average daily volume of 21,056,398 shares. The stock had previously closed at $328.43.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research report on Wednesday, December 17th. UBS Group restated a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, Bank of America boosted their price target on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Eight research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $327.13.

Check Out Our Latest Analysis on GOOG

Alphabet Stock Performance

The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.03 trillion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.09. The firm’s fifty day moving average price is $316.33 and its 200 day moving average price is $261.38.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the firm earned $2.12 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $327.30, for a total value of $10,637,250.00. Following the completion of the transaction, the chief executive officer owned 2,211,872 shares of the company’s stock, valued at approximately $723,945,705.60. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,829 shares of Alphabet stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the completion of the transaction, the insider owned 42,972 shares of the company’s stock, valued at $13,531,453.08. This trade represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 225,187 shares of company stock valued at $69,365,318. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds have recently modified their holdings of the stock. IFS Advisors LLC raised its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley increased its position in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its holdings in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC lifted its position in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, University of Illinois Foundation purchased a new stake in shares of Alphabet during the 2nd quarter worth $31,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

(Get Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

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