Alphabet (NASDAQ:GOOGL) Given New $220.00 Price Target at Jefferies Financial Group

Alphabet (NASDAQ:GOOGLFree Report) had its target price boosted by Jefferies Financial Group from $215.00 to $220.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports.

Other analysts also recently issued research reports about the stock. Truist Financial raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a buy rating in a report on Friday, April 26th. Wolfe Research raised their price target on shares of Alphabet from $180.00 to $200.00 and gave the company an outperform rating in a report on Friday, April 26th. TD Cowen raised their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a buy rating in a report on Friday, April 26th. Wells Fargo & Company raised their price target on shares of Alphabet from $168.00 to $187.00 and gave the company an equal weight rating in a report on Monday. Finally, Robert W. Baird raised their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an outperform rating in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of Moderate Buy and a consensus target price of $194.34.

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Alphabet Stock Performance

Shares of GOOGL stock opened at $188.98 on Tuesday. Alphabet has a one year low of $115.35 and a one year high of $191.36. The company’s 50-day moving average is $176.41 and its 200 day moving average is $156.91. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the firm posted $1.17 EPS. Sell-side analysts expect that Alphabet will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock valued at $21,143,403 over the last three months. 11.55% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently made changes to their positions in the company. Grassi Investment Management raised its holdings in shares of Alphabet by 4.4% in the second quarter. Grassi Investment Management now owns 53,990 shares of the information services provider’s stock valued at $9,834,000 after acquiring an additional 2,275 shares in the last quarter. Somerset Trust Co raised its holdings in shares of Alphabet by 4.6% in the second quarter. Somerset Trust Co now owns 5,597 shares of the information services provider’s stock valued at $1,019,000 after acquiring an additional 245 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Alphabet by 7.5% in the second quarter. Park Avenue Securities LLC now owns 204,475 shares of the information services provider’s stock valued at $37,245,000 after acquiring an additional 14,241 shares in the last quarter. Naples Money Management LLC raised its holdings in shares of Alphabet by 239.9% in the second quarter. Naples Money Management LLC now owns 20,520 shares of the information services provider’s stock valued at $3,755,000 after acquiring an additional 14,483 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. raised its holdings in shares of Alphabet by 2.2% in the second quarter. Astoria Portfolio Advisors LLC. now owns 11,745 shares of the information services provider’s stock valued at $2,139,000 after acquiring an additional 258 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Company Profile

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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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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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