Alphabet (NASDAQ:GOOG) Stock Price Up 2% - Here's What Happened

Alphabet Inc. (NASDAQ:GOOG) saw a 2% increase in its stock price on Monday, reaching a high of $170.02 and settling at $169.52. During mid-day trading, around 4,537,891 shares exchanged hands, which is significantly lower than the average daily volume of 17,803,202 shares. The previous closing price was $166.25.

Analyst Upgrades and Downgrades

Alphabet has been featured in several analyst reports recently. Rosenblatt Securities maintained a "neutral" rating on the stock. On the other hand, Scotiabank raised its price target for Alphabet from $212.00 to $240.00, labeling it as a "sector outperform." Benchmark reasserted a "negative" rating, while Cantor Fitzgerald also reiterated a "neutral" rating. Furthermore, Citizens Jmp downgraded Alphabet from a "strong-buy" to a "hold" rating. In total, one analyst has issued a sell rating, six have placed hold ratings, fourteen have given buy ratings, and three have rated it as a strong buy. MarketBeat.com reports a consensus rating of "Moderate Buy" with an average price target of $209.13.

Alphabet Price Performance

The stock currently boasts a market capitalization of $2.07 trillion, a PE ratio of 21.06, and a PEG ratio of 1.34. Its beta stands at 1.03, with an impressive debt-to-equity ratio of 0.03. The current ratio and quick ratio are both at 1.84. With a 50-day moving average of $184.37 and a 200-day moving average of $178.22, Alphabet has exhibited stable performance.

Recently, Alphabet released its quarterly earnings on February 4, showcasing earnings per share of $2.15, surpassing the consensus estimate of $2.12 by $0.03. The company achieved a return on equity of 32.49% and a net margin of 28.60%. Analysts forecast an EPS of 8.89 for the current year.

Alphabet Dividend Announcement

On March 17, Alphabet declared a quarterly dividend of $0.20 per share to shareholders on record as of March 10. This amounts to an annual dividend of $0.80, yielding 0.47%. The ex-dividend date was also March 10, and Alphabet maintains a payout ratio of 9.94%.

Insider Activity at Alphabet

Recent transactions by insiders have raised some eyebrows. John Kent Walker sold 16,820 shares on December 30 at an average price of $192.62, totaling approximately $3.24 million. Post-sale, he retains 43,981 shares worth about $8.47 million, representing a 27.66% decrease in his holdings. In another transaction, Director John L. Hennessy sold 200 shares on March 13 for $33,106, leaving him with 7,813 shares valued near $1.29 million, marking a 2.50% reduction in ownership. In total, insiders have sold 93,048 shares worth approximately $17.37 million within the last 90 days, with insiders collectively holding 12.99% of the stock.

Institutional Inflows and Outflows

Several institutional investors have adjusted their positions in Alphabet recently. Fiduciary Advisors Inc. and LSV Asset Management both acquired new stakes during the fourth quarter, each worth around $27,000. Various other firms like Weiss Asset Management and Safe Harbor Fiduciary have also made similar investments. Currently, institutional investors and hedge funds own 27.26% of Alphabet's shares.

About Alphabet

Alphabet Inc. operates across several segments, including Google Services, Google Cloud, and Other Bets. It offers products and services such as advertising, Android, Chrome, Gmail, Google Maps, and YouTube, among others.

Should You Invest $1,000 in Alphabet Right Now?

Before making any investment decisions regarding Alphabet, it's crucial to consider expert advice. Top analysts have highlighted several stocks they believe pose better investment opportunities compared to Alphabet, which has a "Moderate Buy" rating. Evaluating these options might be wise for potential investors.

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