Alphabet (NASDAQ:GOOGL) Price Target Raised to $225.00

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by Susquehanna from $220.00 to $225.00 in a research note released on Thursday,Benzinga reports. Susquehanna currently has a positive rating on the information services provider’s stock.

Other analysts also recently issued research reports about the stock. KeyCorp boosted their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial reiterated a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Bank of America increased their price target on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday. Tigress Financial lifted their price objective on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Morgan Stanley upped their target price on Alphabet from $185.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Ten 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.32.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $193.18 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. The stock’s fifty day moving average price is $175.77 and its two-hundred day moving average price is $172.93. Alphabet has a one year low of $140.53 and a one year high of $207.05.

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

Alphabet Dividend Announcement

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

Insider Activity

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

Hedge Funds Weigh In On Alphabet

Large investors have recently modified their holdings of the company. Mystic Asset Management Inc. grew its holdings in shares of Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after acquiring an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new position in Alphabet in the 4th quarter valued at about $3,119,000. Cypress Capital LLC boosted its stake in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC boosted its stake in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after purchasing an additional 403 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.