Alphabet Inc. (NASDAQ:GOOG) Receives $165.67 Average PT from Brokerages

Shares of Alphabet Inc. (NASDAQ:GOOG) have been given an average rating of “Buy” by the six brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $165.67.

A number of analysts have recently commented on GOOG shares. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the sale, the director now directly owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold a total of 252,629 shares of company stock worth $37,091,240 over the last ninety days. Insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently modified their holdings of the business. Veracity Capital LLC raised its position in shares of Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after acquiring an additional 1,230 shares during the period. Washington Trust Bank grew its holdings in shares of Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares in the last quarter. CNB Bank increased its position in shares of Alphabet by 6.6% in the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC raised its stake in Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $171.16 on Monday. Alphabet has a 1-year low of $107.72 and a 1-year high of $176.42. The business’s 50-day moving average price is $152.74 and its two-hundred day moving average price is $144.21. The firm has a market cap of $2.12 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 EPS. As a group, research analysts forecast that Alphabet will post 7.66 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Alphabet Company Profile

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.