Alphabet (NASDAQ:GOOG) Stock Price Up 1.5% - What's Next?

Alphabet Inc. (NASDAQ:GOOG) saw its shares rise by 1.5% on Tuesday, with the stock climbing to a high of $172.52 before closing at $172.42. During the trading session, approximately 3,584,410 shares were exchanged, reflecting a significant drop of 80% from the average daily volume of 17,844,933 shares. This increased price comes after the stock had closed at $169.93 on the previous day.

Analysts Set New Price Targets

Analysts have recently reported on Alphabet, providing various ratings and price targets for the stock. Cantor Fitzgerald maintained a "neutral" rating as of March 19th. Needham & Company LLC continued to support a "buy" rating on February 5th. In a separate report, Oppenheimer raised their price target for Alphabet shares from $215.00 to $225.00 while designating the stock as "outperform" on January 30th. Conversely, Rosenblatt Securities reaffirmed a "neutral" stance on March 19th, and Benchmark expressed a "negative" rating on February 5th. Overall, one analyst suggests a sell rating, six analysts recommend holding the stock, fourteen are in favor of buying, and three suggest a strong buy. According to MarketBeat, Alphabet currently holds a consensus rating of "Moderate Buy" with a target price averaging $209.13.

Alphabet Stock Key Metrics

As it stands, Alphabet has a market capitalization of $2.10 trillion, a price-to-earnings (P/E) ratio of 21.41, and a P/E/G ratio of 1.34. The company’s beta stands at 1.03, suggesting it exhibits volatility comparable to the market. Its quick and current ratios are both 1.84, and the debt-to-equity ratio is exceptionally low at 0.03. The stock’s 50-day moving average is noted at $183.93, while the 200-day moving average is $178.30.

Recent Earnings Report

Alphabet's most recent quarterly earnings data was released on February 4th, showing a reported earnings per share (EPS) of $2.15, exceeding analysts' expectations of $2.12 by $0.03. The company has achieved a return on equity of 32.49% alongside a net margin of 28.60%. Analysts forecast that Alphabet will generate 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

In addition, Alphabet declared a quarterly dividend of $0.20, which was paid out on March 17th. Shareholders recorded on March 10th received the dividend, representing an annualized yield of 0.46%. The ex-dividend date was also March 10th, and Alphabet's dividend payout ratio (DPR) stands at 9.94%.

Insider Transactions

In insider trading news, Director John L. Hennessy sold 200 shares on March 13th at an average price of $165.53, totaling $33,106. This sale reduced his holdings by 2.50%, leaving him with 7,813 shares valued at about $1,293,285.89. Also, CAO Amie Thuener O'Toole sold 1,368 shares on January 2nd for a total of $262,040.40, representing a 6.20% decrease in ownership. Recent insider trading reveals a total of 93,048 shares worth $17,374,274 have been sold in the past three months. Insiders currently own approximately 12.99% of the company's stock.

Institutional Investor Activity

Several institutional investors have recently adjusted their positions in Alphabet. Weiss Asset Management LP initiated a new stake in Alphabet in the third quarter, valued at about $25,000. Fiduciary Advisors Inc. acquired a similar position worth $27,000 in the fourth quarter. Additionally, LSV Asset Management and Safe Harbor Fiduciary LLC each made new investments during the last quarter, while WealthTrak Capital Management LLC also increased their stake. Presently, around 27.26% of Alphabet's shares are held by institutional and hedge fund investors.

About Alphabet

Alphabet Inc. is a diversified technology company that operates internationally, providing a wide range of products and platforms through its Google Services segment, which includes ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube, as well as its Google Cloud segment and other business ventures, known as "Other Bets".

Investment Consideration

For those contemplating an investment of $1,000 in Alphabet, it’s essential to be aware that while the stock currently enjoys a "Moderate Buy" rating, some top-rated analysts have recommended alternative stocks that they consider more favorable investments at this time. Keeping track of these recommendations may provide insight into where to allocate funds for potentially better returns.

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