Alphabet (NASDAQ:GOOG) Stock Price Up 0.6% - Still a Buy?

Alphabet Inc. (NASDAQ:GOOG) shares increased by 0.6% on Tuesday, reaching a high of $167.47 before settling at $166.85. During the trading session, a total of 2,999,101 shares exchanged hands, representing a significant decline of 85% compared to the average daily volume of 19,493,498 shares. The previous close for the stock was $165.80.

Wall Street Analyst Opinions

Several analysts have recently provided their insights on GOOG shares. Wolfe Research upgraded Alphabet to a 'strong-buy' rating in a report on July 16. Meanwhile, UBS Group reduced its price target for Alphabet from $204.00 to $187.00 while maintaining a 'neutral' rating in its report from October 7. DA Davidson also raised its rating to 'hold' on September 10. On October 1, Pivotal Research initiated coverage on Alphabet with a 'buy' rating and a price objective of $215.00. Furthermore, Cantor Fitzgerald upgraded Alphabet to a 'hold' rating on September 5. Overall, four analysts have established a hold rating, eight have indicated a buy rating, and one has given a strong buy rating. According to MarketBeat.com, Alphabet currently holds an average rating of 'Moderate Buy' with a consensus price target of $186.90.

Stock Performance Overview

The 50-day simple moving average for Alphabet's stock stands at $163.21, while the 200-day simple moving average is $169.86. The company shows a debt-to-equity ratio of 0.04, along with a quick ratio of 2.08 and a current ratio of 2.08. Alphabet's market capitalization is approximately $2.06 trillion, with a price-to-earnings (P/E) ratio of 25.59 and a P/E/G ratio of 1.21. Its beta is noted at 1.04.

In terms of earnings, Alphabet reported its last results on July 23, where it posted earnings of $1.89 per share for the quarter, exceeding analysts' expectations of $1.85 by $0.04. The company had a net margin of 26.70% and a return on equity of 30.49%. Its revenue reached $84.74 billion, surpassing the consensus estimate of $84.22 billion, and reflecting a year-over-year growth of 13.6%.

Insider Transactions

In recent developments, CEO Sundar Pichai sold 22,500 shares of the company on October 16 at an average price of $166.30, amounting to $3,741,750.00 in total. Following this transaction, he now holds 2,106,806 shares, valued at approximately $350,361,837.80. This sale represents a negligible change in his overall stake. Other significant transactions include CAO Amie Thuener O'toole selling 682 shares on August 2 for about $114,576. Overall, insiders sold 220,426 shares in the last quarter, totaling around $35,993,340, with insiders retaining about 12.99% ownership of the company.

Hedge Fund Activity

Several institutional investors have modified their holdings in Alphabet recently. Lane & Associates LLC increased its stake by 10.8% in the first quarter, now owning 1,728 shares worth $263,000 after acquiring 168 additional shares. Similarly, First PREMIER Bank raised its position by 24.5%, owning 921 shares valued at $140,000 post-purchase. Southland Equity Partners LLC and Global Assets Advisory LLC have also adjusted their stakes, contributing to 27.26% of Alphabet's stock currently controlled by institutional investors.

Company Overview

Alphabet Inc. is a global leader offering a diverse range of products and platforms, with operations extending throughout the U.S., Europe, Asia-Pacific, and other regions. It segments its services into Google Services, Google Cloud, and Other Bets. The Google Services segment includes well-known products such as Ads, Android, Chrome, Gmail, Google Drive, YouTube, and more.

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