Key Points
- Alphabet insider John Kent Walker sold 8,998 shares on June 29 at an average price of $349.29, totaling about $3.14 million. After the sale, he still held 75,290 shares, and the trade reduced his position by 10.68%.
- Alphabet’s stock was up 1.1% and traded around $361.21, near its 50-day average of $370.08. The company remains highly valued with a market cap of $4.38 trillion and a P/E ratio of 27.55.
- Wall Street remains constructive on Alphabet, with a consensus rating of “Moderate Buy” and an average price target of $413.90. Recent commentary also highlighted both positives, such as AI and Dow inclusion, and negatives, including antitrust and app-store regulatory risks.
Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) insider John Kent Walker sold 8,998 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.
Alphabet Stock Up 1.1%
Alphabet stock opened at $361.21 on Thursday. Alphabet Inc. has a 1-year low of $172.77 and a 1-year high of $408.61. The firm has a market capitalization of $4.38 trillion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. The firm's fifty day moving average price is $370.08 and its two-hundred day moving average price is $333.88. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities research analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.71%.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
Analysts Set New Price Targets
Several analysts have recently commented on GOOGL shares. Stifel Nicolaus set a $420.00 price objective on Alphabet and gave the stock a "buy" rating in a research note on Thursday, April 30th. China Renaissance upped their price target on Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Sanford C. Bernstein reissued a "market perform" rating and issued a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Loop Capital increased their price target on Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $450.00 price objective on shares of Alphabet in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $413.90.
Check Out Our Latest Stock Report on GOOGL
Hedge Funds Weigh In On Alphabet
Several institutional investors have recently modified their holdings of the business. EMC Capital Management purchased a new position in Alphabet in the fourth quarter worth $33,000. Lifetime Wealth Management P.C. purchased a new stake in shares of Alphabet during the 4th quarter valued at $32,000. PMV Capital Advisers LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $38,000. Finally, Bard Associates Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $52,000. 40.03% of the stock is owned by institutional investors.
Alphabet Company Profile
(
Get Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
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