Alphabet (NASDAQ:GOOGL) Price Target Raised to $205.00 at Oppenheimer

Alphabet (NASDAQ:GOOGL) had its target price boosted by Oppenheimer from $185.00 to $205.00 in a research report released on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the information services provider’s stock.

GOOGL has been the subject of several other research reports. Barclays raised their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an overweight rating in a research report on Friday. Wells Fargo & Company lifted their price target on shares of Alphabet from $141.00 to $168.00 and gave the stock an equal weight rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $165.00 to $200.00 and gave the stock an overweight rating in a research report on Friday. Wedbush lifted their price target on shares of Alphabet from $175.00 to $205.00 and gave the stock an outperform rating in a research report on Friday. Finally, Royal Bank of Canada lifted their price target on shares of Alphabet from $155.00 to $200.00 and gave the stock an outperform rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $187.82.

Alphabet Trading Up 10.2 %

GOOGL opened at $171.95 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. Alphabet has a 1-year low of $103.54 and a 1-year high of $174.71. The firm has a 50-day moving average price of $147.85 and a two-hundred day moving average price of $141.39.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter last year, the company posted $1.05 EPS. As a group, equities analysts anticipate that Alphabet will post 6.79 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock valued at $36,746,578 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently made changes to their positions in the business. Kellett Wealth Advisors LLC grew its stake in Alphabet by 5.1% in the first quarter. Kellett Wealth Advisors LLC now owns 2,688 shares of the information services provider’s stock worth $406,000 after purchasing an additional 130 shares during the period. Phoenix Wealth Advisors grew its stake in Alphabet by 4.5% in the first quarter. Phoenix Wealth Advisors now owns 2,785 shares of the information services provider’s stock worth $420,000 after purchasing an additional 120 shares during the period. Fonville Wealth Management LLC grew its stake in Alphabet by 6.7% in the first quarter. Fonville Wealth Management LLC now owns 1,598 shares of the information services provider’s stock worth $241,000 after purchasing an additional 100 shares during the period. Finer Wealth Management Inc. grew its stake in Alphabet by 4.0% in the first quarter. Finer Wealth Management Inc. now owns 36,365 shares of the information services provider’s stock worth $5,489,000 after purchasing an additional 1,396 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its stake in Alphabet by 4.8% in the first quarter. Foster Victor Wealth Advisors LLC now owns 132,521 shares of the information services provider’s stock worth $21,125,000 after purchasing an additional 6,082 shares during the period. 40.03% of the stock is owned by hedge funds and other 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.