Alphabet (NASDAQ:GOOGL) Shares Up 1.1% – What’s Next?

Alphabet Inc. (NASDAQ:GOOGL) shares rose 1.1% during mid-day trading on Tuesday . The stock traded as high as $380.52 and last traded at $377.65. Approximately 35,354,484 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 32,574,859 shares. The stock had previously closed at $373.51.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet-owned Waymo removed the waitlist for its Dallas robotaxi service, expanding access as it scales autonomous driving. Separate analysis found Waymo vehicles crash 68% less often than human drivers, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo opens up robotaxi service in Dallas to everyone Waymo robotaxis found to crash 68% less often than human drivers
• Positive Sentiment: Oracle is deepening its integration of Google Gemini, a development that could increase enterprise distribution for Alphabet’s AI models and support Google Cloud demand. Google is also partnering with RWE on the Crooked Creek solar project, helping secure renewable energy for its operations. Oracle deepens Google Gemini integration Google partners with RWE for Crooked Creek Solar project energy
• Positive Sentiment: Investor commentary remains bullish on Alphabet’s valuation, AI monetization prospects and cloud growth. Berkshire Hathaway has reportedly made Alphabet one of its five largest holdings, adding to confidence among long-term investors. Berkshire Hathaway has invested $23 billion in this stock

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOGL. Rothschild & Co Redburn upped their price objective on Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wolfe Research cut their target price on Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a research note on Friday, April 10th. Oppenheimer upped their price target on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. DA Davidson set a $350.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, UBS Group reduced their target price on shares of Alphabet from $400.00 to $379.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $419.86.

Alphabet Stock Up 1.1%

The firm has a market capitalization of $4.62 trillion, a P/E ratio of 18.97, a PEG ratio of 1.00 and a beta of 1.24. The firm’s 50 day moving average is $357.60 and its two-hundred day moving average is $339.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Research analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is 4.42%.

Insiders Place Their Bets

In other news, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares of the company’s stock, valued at $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 600,547 shares of company stock worth $16,255,540 over the last ninety days. 11.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Hedge funds have recently modified their holdings of the stock. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $32,000. EMC Capital Management acquired a new position in Alphabet in the 4th quarter valued at $33,000. IFC & Insurance Marketing Inc. acquired a new position in Alphabet in the 4th quarter valued at $38,000. Bard Associates Inc. bought a new position in Alphabet during the 4th quarter worth $52,000. Finally, Kentucky Trust Co increased its position in Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after buying an additional 100 shares during the period. 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.