Alphabet (NASDAQ:GOOGL) PT Raised to $196.00

Alphabet (NASDAQ:GOOGL) had its price target raised by Truist Financial from $190.00 to $196.00 in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has a buy rating on the information services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities reaffirmed a market outperform rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Loop Capital reaffirmed a hold rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. UBS Group raised their price objective on shares of Alphabet from $150.00 to $166.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $180.00 and gave the company a market perform rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $208.00 and gave the company an overweight rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of Moderate Buy and a consensus target price of $203.74.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $167.00 on Wednesday. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.25 and a beta of 1.05. Alphabet has a 12 month low of $120.21 and a 12 month high of $191.75. The firm’s 50 day simple moving average is $179.04 and its 200-day simple moving average is $160.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company earned $1.44 EPS. Analysts expect that Alphabet will post 7.63 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $168.08, for a total transaction of $252,120.00. Following the completion of the sale, the director now directly owns 4,391 shares of the company’s stock, valued at approximately $738,039.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold a total of 122,388 shares of company stock worth $21,497,609 in the last quarter. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $38,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.