Alphabet Inc. (NASDAQ:GOOGL – Get Free Report)’s stock price shot up 1.8% during trading on Monday . The stock traded as high as $367.93 and last traded at $366.46. Approximately 26,331,551 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 32,856,074 shares. The stock had previously closed at $359.91.
Key Headlines Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet was highlighted on CNBC’s “Final Trades,” with investor Kevin Simpson naming GOOGL as a preferred pick, which can reinforce bullish sentiment around the stock. Article Title
- Positive Sentiment: Multiple bullish articles pointed to Alphabet’s strong AI and cloud position, including its large stake in Anthropic and continued growth in Google Cloud revenue, which supports the longer-term investment case. Article Title Article Title
- Neutral Sentiment: Recent coverage also framed Alphabet as a stock some investors continue to buy on weakness after a strong run, suggesting the market still sees upside but may be debating valuation. Article Title Article Title
- Negative Sentiment: Alphabet is facing renewed scrutiny over data privacy, after a TechCrunch report said Google’s settings allow more user media to be stored and used to train AI unless users opt out, which could raise trust and regulatory concerns. Article Title
- Negative Sentiment: Alphabet also lost a long-running European Android antitrust case, with the EU’s €4.1 billion fine upheld, adding to regulatory risk around its core search and mobile ecosystem. Article Title
- Negative Sentiment: Separate reports about Google employee departures and Waymo hiccups add softer headline risk, though these are less likely to move the stock on their own. Article Title Article Title
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several research analyst reports. CICC Research boosted their price target on shares of Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research report on Friday, May 1st. Roth Mkm restated a “buy” rating on shares of Alphabet in a report on Thursday, April 30th. Phillip Securities lifted their price objective on Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a research report on Wednesday, April 15th. Oppenheimer upped their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Citigroup restated an “outperform” rating on shares of Alphabet in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $413.54.
Alphabet Stock Up 1.8%
The company has a 50 day moving average price of $371.05 and a two-hundred day moving average price of $334.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a market cap of $4.44 trillion, a PE ratio of 27.95, a PEG ratio of 1.54 and a beta of 1.24.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate 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%. Analysts expect that Alphabet Inc. will post 14.32 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s payout ratio is 6.71%.
Insiders Place Their Bets
In other Alphabet news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 160,465 shares of company stock valued at $8,020,511. 11.61% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after acquiring an additional 12,531,695 shares during the last quarter. State Street Corp increased its position in shares of Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC raised its holdings in Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock valued at $45,625,595,000 after buying an additional 2,666,676 shares during the period. Norges Bank bought a new stake in Alphabet in the fourth quarter worth $30,534,239,000. Finally, Bank of America Corp DE lifted its position in Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock worth $21,630,861,000 after buying an additional 3,218,852 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Alphabet Company Profile
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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