Alphabet (NASDAQ:GOOGL) Given New $208.00 Price Target at The Goldman Sachs Group

Alphabet (NASDAQ:GOOGL) had its price objective decreased by The Goldman Sachs Group from $217.00 to $208.00 in a research report released on Monday, Marketbeat reports. The Goldman Sachs Group currently has a buy rating on the information services provider’s stock.

A number of other analysts have also issued reports on the company. Evercore ISI decreased their price objective on Alphabet from $225.00 to $200.00 and set an outperform rating on the stock in a research note on Monday, September 16th. Scotiabank raised shares of Alphabet to a strong-buy rating in a report on Friday. Guggenheim boosted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Piper Sandler reaffirmed an overweight rating and set a $200.00 target price on shares of Alphabet in a report on Monday, September 30th. Finally, Wells Fargo & Company cut their price target on shares of Alphabet from $190.00 to $182.00 and set an equal weight rating for the company in a report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of Moderate Buy and a consensus target price of $201.13.

Alphabet Price Performance

Alphabet stock opened at $164.96 on Monday. The business’s 50 day simple moving average is $161.49 and its 200 day simple moving average is $167.96. Alphabet has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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 analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. Sell-side analysts forecast that Alphabet will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 216,092 shares of company stock valued at $35,644,136. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently bought and sold shares of GOOGL. Scarborough Advisors LLC increased its holdings in Alphabet by 6.5% in the 4th quarter. Scarborough Advisors LLC now owns 2,726 shares of the information services provider’s stock worth $381,000 after buying an additional 167 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Alphabet by 3.3% in the fourth quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares during the last quarter. Alamar Capital Management LLC raised its stake in Alphabet by 14.5% during the 4th quarter. Alamar Capital Management LLC now owns 3,160 shares of the information services provider’s stock valued at $441,000 after buying an additional 400 shares during the last quarter. Willner & Heller LLC bought a new position in shares of Alphabet during the 4th quarter valued at $1,513,000. Finally, SageView Advisory Group LLC boosted its stake in shares of Alphabet by 55.3% in the 4th quarter. SageView Advisory Group LLC now owns 48,893 shares of the information services provider’s stock worth $7,405,000 after buying an additional 17,419 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

About Alphabet

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.