Shares of Alphabet Inc. (NASDAQ:GOOG – Get Free Report) were up 1.1% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $170.27 and last traded at $170.14. Approximately 4,951,771 shares traded hands during trading, a decline of 74% from the average daily volume of 19,385,303 shares. The stock had previously closed at $168.34.
The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on GOOG
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 12.99% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the period. Swedbank AB bought a new stake in Alphabet in the first quarter valued at $1,378,708,000. Capital International Investors increased its position in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. Assenagon Asset Management S.A. raised its holdings in Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after purchasing an additional 2,500,621 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Alphabet Price Performance
The company has a market cap of $2.13 trillion, a PE ratio of 26.79, a PEG ratio of 1.27 and a beta of 1.04. The firm’s 50-day moving average is $163.56 and its 200-day moving average is $170.30. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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