Cantor Fitzgerald Reaffirms “Neutral” Rating for Alphabet (NASDAQ:GOOGL)

Cantor Fitzgerald reissued their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $190.00 target price on the information services provider’s stock.

Other equities analysts have also issued research reports about the company. UBS Group raised their price objective on Alphabet from $200.00 to $204.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Loop Capital reaffirmed a hold rating and set a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Evercore ISI lowered their target price on Alphabet from $225.00 to $200.00 and set an outperform rating for the company in a research report on Monday, September 16th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $222.00 target price on shares of Alphabet in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $201.14.

Alphabet Stock Down 0.7 %

GOOGL stock opened at $165.86 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.21 and a beta of 1.04. The business has a 50-day moving average of $162.08 and a 200-day moving average of $167.01. Alphabet has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the firm posted $1.44 earnings per share. On average, sell-side analysts anticipate that Alphabet will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,592 shares of company stock valued at $35,922,911. 11.55% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Institutional investors have recently modified their holdings of the company. MorganRosel Wealth Management LLC grew its stake in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the last quarter. Hengehold Capital Management LLC lifted its position in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC lifted its position in shares of Alphabet by 1.0% during the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after purchasing an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its position in shares of Alphabet by 1.0% during the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is currently 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.