Alphabet (NASDAQ:GOOG) Stock Price Up 0.6% – Still a Buy?

Shares of Alphabet Inc. (NASDAQ:GOOG) were up 0.6% during trading on Thursday . The stock traded as high as $193.20 and last traded at $191.65. Approximately 4,893,943 shares changed hands during trading, a decline of 75% from the average daily volume of 19,706,879 shares. The stock had previously closed at $190.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Canaccord Genuity Group lifted their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Down 0.8 %

The firm has a fifty day moving average of $180.72 and a 200-day moving average of $173.79. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.31 trillion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,406,343.27. The trade was a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,588 shares of company stock valued at $24,473,081. 12.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently made changes to their positions in the company. Weiss Asset Management LP bought a new position in Alphabet during the 3rd quarter worth $25,000. Abich Financial Wealth Management LLC increased its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the 3rd quarter worth about $33,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter valued at about $40,000. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the second quarter worth approximately $44,000. 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.