Alphabet (NASDAQ:GOOGL) Price Target Raised to $202.00

Alphabet (NASDAQ:GOOGL) had its price objective raised by UBS Group from $192.00 to $202.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

GOOGL has been the subject of a number of other reports. Truist Financial restated a “buy” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their price objective on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. DA Davidson reduced their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Piper Sandler raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, KeyCorp lifted their target price on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.32.

Alphabet Stock Up 0.5%

Shares of NASDAQ GOOGL opened at $193.18 on Thursday. Alphabet has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market cap of $2.34 trillion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The firm’s 50 day moving average price is $175.77 and its 200 day moving average price is $172.93. 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 (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,409 shares of company stock worth $43,523,710. 11.64% of the stock is owned by insiders.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC raised its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the first quarter valued at $39,000. Institutional investors and hedge funds 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.