Rosenblatt Securities Raises Alphabet (NASDAQ:GOOGL) Price Target to $182.00

Alphabet (NASDAQ:GOOGL) had its target price raised by Rosenblatt Securities from $172.00 to $182.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

GOOGL has been the topic of a number of other reports. Wells Fargo & Company decreased their price target on Alphabet from $144.00 to $141.00 and set an equal weight rating on the stock in a research note on Wednesday, April 3rd. Wedbush reaffirmed an outperform rating and issued a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Mizuho raised their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a buy rating in a report on Wednesday, January 17th. Truist Financial raised their price target on Alphabet from $158.00 to $170.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, Wolfe Research increased their price objective on Alphabet from $170.00 to $180.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $187.82.

Alphabet Stock Up 10.2 %

GOOGL stock opened at $171.95 on Friday. The firm’s 50 day moving average price is $147.85 and its 200-day moving average price is $141.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap 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 one year low of $103.54 and a one year high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the firm earned $1.05 EPS. On average, equities research analysts anticipate that Alphabet will post 6.79 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is owned by insiders.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the fourth quarter worth about $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet during the fourth quarter worth $38,000. Meritage Group LP boosted its holdings in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Finally, Macroview Investment Management LLC increased its stake in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the last quarter. Institutional investors 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.