In yesterday’s Wall Street session, Alphabet Inc (NASDAQ:GOOGL) shares traded at $156.28, up 1.42% from the previous session.
GOOGL stock price is now 6.80% away from the 50-day moving average and 13.96% away from the 200-day moving average. The market capitalization of the company currently stands at $1943.03B.
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With the price target enhanced from $155 to $170, Mizuho maintained Buy rating for Alphabet Inc (NASDAQ: GOOGL). On January 09, 2024, BMO Capital Markets recently initiated its ‘Outperform’ rating on the stock quoting a target price of $170, while ‘Monness Crespi & Hardt’ rates the stock as ‘Neutral’
In other news, Pichai Sundar, Chief Executive Officer sold 22,500 shares of the company’s stock on Apr 17 ’24. The stock was sold for $3,541,763 at an average price of $157.41. Upon completion of the transaction, the Chief Executive Officer now directly owns 2,303,011 shares in the company, valued at $359.91 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 12 ’24, Director HENNESSY JOHN L sold 800 shares of the business’s stock. A total of $127,648 was realized by selling the stock at an average price of $159.56. This leaves the insider owning 7,991 shares of the company worth $1.25 million. A total of 52.78% of the company’s stock is owned by insiders.
During the past 12 months, Alphabet Inc has had a low of $102.63 and a high of $160.22. As of last week, the company has a debt-to-equity ratio of 0.11, a current ratio of 2.10, and a quick ratio of 2.10.
The net profit margin was 24.03% and return on equity was 27.36% for GOOGL. The company reported revenue of $86.31 billion for the quarter, compared to $76.05 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.49 percent.
