Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) rose 2.1% during mid-day trading on Monday . The stock traded as high as $182.29 and last traded at $181.33. Approximately 5,852,335 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 27,590,879 shares. The stock had previously closed at $177.66.
Analysts Set New Price Targets
GOOGL has been the topic of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. TD Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Robert W. Baird upped their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price objective (down from $182.00) on shares of Alphabet in a research note on Friday, June 28th. Finally, Susquehanna upped their price objective on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.44.
Get Our Latest Stock Analysis on GOOGL
Alphabet Trading Up 2.3 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 7.61 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.
Insider Activity
In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,488 shares of company stock worth $21,866,705. Corporate insiders own 11.55% of the company’s stock.
Hedge Funds Weigh In On Alphabet
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Norges Bank purchased a new stake in Alphabet in the 4th quarter worth approximately $15,441,917,000. Capital Research Global Investors increased its holdings in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Alphabet by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after acquiring an additional 1,472,043 shares in the last quarter. Finally, Capital World Investors increased its holdings in Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares in the last quarter. Hedge funds and other institutional investors own 40.03% 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.
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