Alphabet Inc. (NASDAQ:GOOG) Stock Price Up 0.1% - Is it Time to Buy?

Alphabet Inc. (NASDAQ:GOOG) saw a slight increase of 0.1% in its stock price on Thursday, reaching a high of $171.14 before closing at $170.82. In total, 12,433,371 shares were traded, which is a significant decline of 37% compared to the average trading volume of 19,605,984 shares. The stock had closed at $170.62 the previous day.

Recent Analyst Ratings

In light of current market trends, several research analysts have updated their ratings on Alphabet shares. On October 11th, Scotiabank began coverage of the stock, assigning a "sector outperform" rating along with a target price of $212. Oppenheimer raised its price target from $185 to $215, giving the stock an "outperform" rating on October 30th. Meanwhile, Phillip Securities upgraded Alphabet to a "strong-buy" on November 1st. On the same day, Barclays increased their target from $200 to $220 and issued an "overweight" rating. Seaport Res Ptn also upgraded the stock from a "hold" to a "strong-buy" on October 29th. Overall, five analysts recommend holding the stock, thirteen suggest buying, and three advocate a strong-buy stance. MarketBeat indicates that the consensus rating is "Moderate Buy" with an average price target of $200.56.

Stock Performance Overview

The current 50-day moving average stands at $169.71, while the 200-day moving average is $171.85. Alphabet's financial metrics show a debt-to-equity ratio of 0.04, a quick ratio of 1.95, and a current ratio of 1.95. The company boasts a market capitalization of $2.09 trillion, a P/E ratio of 22.66, and a PEG ratio of 1.18, with a beta of 1.04.

Recent Earnings Report

Alphabet's quarterly earnings report was released on October 29th. The company reported earnings per share (EPS) of $2.12, exceeding the consensus forecast of $1.83 by $0.29. Alphabet's net margin was 27.74%, and it achieved a return on equity of 31.66%. The company's revenue for the quarter reached $88.27 billion, surpassing analysts' estimates of $86.39 billion. This represents a 15.1% increase compared to the same quarter last year, where the business posted an EPS of $1.55. Research analysts predict that Alphabet will report 8.02 EPS for the current fiscal year.

Dividend Announcement

Recently, Alphabet announced a quarterly dividend scheduled for payment on December 16th. Shareholders on record as of December 9th will receive a dividend of $0.20 per share, marking an annual yield of 0.47%. The ex-dividend date for this payment is also December 9th. Presently, Alphabet's dividend payout ratio (DPR) stands at 10.61%.

Insider Trading Activity

In insider news, CEO Sundar Pichai sold 22,500 shares on September 4th at an average price of $158.68, totaling approximately $3.57 million. As a result, he now owns around 2.14 million shares valued at approximately $339.16 million. This equates to a 1.04% decrease in his holdings. The transaction was filed with the SEC. Additionally, Chief Accounting Officer Amie Thuener O’toole sold 2,835 shares on September 10th at an average price of $151.53, totaling around $429,587. This sale led to an 8.85% decrease in her ownership of the stock. In total, insiders sold 206,795 shares valued at about $34.67 million over the past three months, with insiders owning 12.99% of the company’s stock.

Institutional Investor Movements

Numerous hedge funds and institutional investors have adjusted their positions in Alphabet recently. Quent Capital LLC increased its holdings by 5.8%, now owning 32,706 shares valued at approximately $4.98 million. Beck Bode LLC also raised its stake by 23.5%, holding 63,067 shares worth about $9.60 million after adding 12,021 shares. Redwood Grove Capital LLC's stake rose by 6.1%, with 102,400 shares valued at approximately $15.59 million after adding 5,900 shares. Increased investments have also been noted from ARQ Wealth Advisors LLC (up 56.1%) and Farallon Capital Management LLC (up 6.4%). Institutional investors currently own 27.26% of Alphabet’s stock.

About Alphabet Inc.

Alphabet Inc. offers a variety of products and platforms across multiple regions including the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. The company operates through various segments like Google Services, Google Cloud, and Other Bets, providing a range of services such as ads, Android, Chrome, Gmail, Google Drive, Google Maps, YouTube, and more.

Conclusion

As Alphabet continues to show growth and consistent earnings, investors are left questioning whether this may be a good opportunity to buy. While some analysts hold a positive outlook with upgraded ratings, others are cautious. Investors should carefully consider their options before making investment decisions, including evaluating Alphabet's recent trends and overall market performance.

Alphabet, Stock, Earnings