Alphabet (NASDAQ:GOOGL) Price Target Raised to $201.00

Alphabet (NASDAQ:GOOGL) had its target price raised by Cantor Fitzgerald from $196.00 to $201.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the information services provider’s stock.

Several other research analysts also recently commented on GOOGL. Mizuho cut their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Truist Financial reissued a “buy” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Wells Fargo & Company raised their price objective on Alphabet from $177.00 to $184.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America boosted their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.32.

Alphabet Trading Up 0.5%

Shares of Alphabet stock opened at $193.18 on Thursday. The firm has a 50-day moving average of $175.77 and a 200-day moving average of $172.93. The stock has a market cap of $2.34 trillion, a PE ratio of 20.57, a PEG ratio of 1.33 and a beta of 1.00. 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 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock valued at $43,523,710 in the last three months. 11.64% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Institutional investors have recently bought and sold shares of the company. Eagle Capital Management LLC lifted its position in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC raised its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE boosted its stake in shares of Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after buying an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC boosted its stake in shares of Alphabet by 22.7% in the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock worth $13,873,000 after buying an additional 13,564 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

About Alphabet

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.