Alphabet (NASDAQ:GOOG) Upgraded at Mizuho

Mizuho upgraded shares of Alphabet (NASDAQ:GOOG) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other research analysts have also issued research reports about the company. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer reiterated an “outperform” rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $230.35.

Alphabet Stock Up 0.8%

GOOG stock opened at $245.54 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.97 trillion, a PE ratio of 26.15, a PEG ratio of 1.64 and a beta of 1.00. Alphabet has a twelve month low of $142.66 and a twelve month high of $256.70. The stock has a 50-day simple moving average of $219.78 and a two-hundred day simple moving average of $185.88.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, equities analysts predict that Alphabet will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at $1,425,799.04. The trade was a 9.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,285 shares of company stock worth $50,994,787 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds have recently bought and sold shares of the company. Principia Wealth Advisory LLC lifted its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the first quarter valued at approximately $26,000. IFS Advisors LLC lifted its position in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. Finally, WestEnd Advisors LLC lifted its position in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 27.26% 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.