Shares of Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) dropped 1.4% on Monday . The company traded as low as $360.53 and last traded at $363.31. Approximately 27,709,643 shares were traded during trading, a decline of 13% from the average daily volume of 32,008,055 shares. The stock had previously closed at $368.53.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s cloud and AI footprint continues to expand, with reporting that SpaceX signed a more than $30 billion cloud services deal with Google, highlighting demand for Alphabet’s infrastructure and AI capabilities. Why Google May Have Handed SpaceX The Perfect IPO Catalyst
- Positive Sentiment: Alphabet is also benefiting from its role in autonomous driving, as Waymo remains a key competitor in the emerging robotaxi market and continues to attract investor attention around self-driving expansion. Uber, Wayve and Waymo are headed towards a robotaxi showdown in London
- Neutral Sentiment: Alphabet is drawing increased investor attention, with several articles noting the stock is trending and that analysts are revisiting the company’s AI and earnings outlook. Alphabet Inc. (GOOGL) Is a Trending Stock: Facts to Know Before Betting on It
- Neutral Sentiment: The company is expected to continue paying dividends, which may help support the shares, but the announcement itself is not likely a major short-term catalyst. Google to pay dividends next week; Here’s how much 100 GOOGL shares will earn
- Negative Sentiment: Alphabet shares are falling as investors focus on the company’s aggressive plan to raise capital and ramp AI infrastructure spending, which raises concerns about dilution, margin pressure, and slower near-term earnings growth. What’s Going On With Alphabet Stock?
- Negative Sentiment: Commentary from Mike Novogratz calling Alphabet’s stock sale a possible market-top signal may have added to broader investor caution around large-cap AI names. Alphabet’s $80 billion stock sale is a possible market top signal, Mike Novogratz says
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of research analyst reports. Bank of America lifted their price target on Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Sanford C. Bernstein restated a “market perform” rating and issued a $390.00 target price (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Monday, May 4th. Citigroup restated an “outperform” rating on shares of Alphabet in a research note on Monday, May 4th. Finally, Susquehanna restated a “positive” rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $413.13.
Alphabet Stock Performance
The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.40 trillion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23. The stock has a fifty day moving average price of $352.70 and a 200 day moving average price of $328.11.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.
Insider Buying and Selling at Alphabet
In related news, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the transaction, the chief executive officer directly owned 1,642,060 shares of the company’s stock, valued at $505,573,853.40. This represents a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 193,016 shares of company stock worth $17,282,549 in the last 90 days. Company insiders own 11.61% of the company’s stock.
Hedge Funds Weigh In On Alphabet
Large investors have recently made changes to their positions in the business. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet during the 4th quarter worth about $32,000. EMC Capital Management acquired a new position in shares of Alphabet during the 4th quarter worth about $33,000. PMV Capital Advisers LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $38,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $38,000. Finally, Bard Associates Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $52,000. Institutional investors and hedge funds 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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