Alphabet (NASDAQ:GOOGL) Price Target Raised to $191.00

Alphabet (NASDAQ:GOOGL) had its price target increased by Rosenblatt Securities from $189.00 to $191.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

A number of other brokerages also recently commented on GOOGL. Morgan Stanley increased their price target on Alphabet from $185.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. BMO Capital Markets increased their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Citigroup reiterated a “buy” rating and set a $203.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Truist Financial reiterated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.32.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $193.18 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90. Alphabet has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a 50 day simple moving average of $175.77 and a two-hundred day simple moving average of $172.93. The company has a market capitalization of $2.34 trillion, a PE ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. During the same period in the previous year, the company posted $1.89 earnings per share. Research analysts anticipate that Alphabet will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 400 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares of the company’s stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Missouri Trust & Investment Co lifted its position in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after acquiring an additional 55 shares during the period. AM Investment Strategies LLC raised its stake in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the last quarter. Perritt Capital Management Inc lifted its stake in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after acquiring an additional 58 shares during the period. Nia Impact Advisors LLC lifted its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Finally, Bfsg LLC lifted its holdings in shares of Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.