Alphabet (NASDAQ:GOOGL) Trading Up 0% – Here’s What Happened

by · The Markets Daily

Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) shot up 0% during trading on Tuesday . The stock traded as high as $177.10 and last traded at $175.32. 5,684,357 shares were traded during mid-day trading, a decline of 79% from the average session volume of 27,018,525 shares. The stock had previously closed at $175.30.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOGL shares. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group lowered their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Finally, UBS Group upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.90.

View Our Latest Analysis on Alphabet

Alphabet Stock Performance

The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.18 trillion, a PE ratio of 23.25, a PEG ratio of 1.23 and a beta of 1.03. The firm’s 50-day simple moving average is $166.15 and its 200-day simple moving average is $170.28.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the business earned $1.55 EPS. On average, research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter worth about $32,000. Kings Path Partners LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth approximately $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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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