Alphabet (NASDAQ:GOOG) Trading 2% Higher – What’s Next?

Alphabet Inc. (NASDAQ:GOOG)’s share price shot up 2% during mid-day trading on Monday . The company traded as high as $170.02 and last traded at $169.52. 4,537,891 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 17,803,202 shares. The stock had previously closed at $166.25.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Price Performance

The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock has a fifty day simple moving average of $184.37 and a 200-day simple moving average of $178.22. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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 stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is owned by company insiders.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of GOOG. Weiss Asset Management LP bought a new stake in Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $27,000. LSV Asset Management bought a new position in shares of Alphabet during the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the third quarter worth about $33,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $38,000. Institutional investors 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.