Alphabet (NASDAQ:GOOGL) PT Raised to $204.00

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by Royal Bank of Canada from $200.00 to $204.00 in a research report sent to investors on Wednesday, Marketbeat.com reports. The brokerage currently has an outperform rating on the information services provider’s stock.

A number of other analysts have also weighed in on GOOGL. Susquehanna raised their target price on Alphabet from $170.00 to $225.00 and gave the company a positive rating in a research note on Monday, April 29th. Citigroup upped their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a buy rating in a research report on Friday, April 26th. JMP Securities reissued a market outperform rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Barclays upped their price objective on Alphabet from $173.00 to $200.00 and gave the stock an overweight rating in a report on Friday, April 26th. Finally, Raymond James lifted their target price on Alphabet from $160.00 to $200.00 and gave the company an outperform rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $203.74.

Alphabet Trading Down 0.2 %

Shares of GOOGL stock opened at $167.00 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.06 trillion, a P/E ratio of 25.61, a P/E/G 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 has a 50-day moving average price of $179.04 and a 200 day moving average price of $160.35.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the business earned $1.44 EPS. Research analysts forecast that Alphabet will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on 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 owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 122,388 shares of company stock valued at $21,497,609 in the last quarter. 11.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

Several large investors have recently modified their holdings of the stock. MorganRosel Wealth Management LLC raised its stake in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares during the period. Hengehold Capital Management LLC grew its holdings in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc raised 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 valued at $26,000 after buying an additional 60 shares during the last quarter. Joseph P. Lucia & Associates LLC lifted its holdings in shares of Alphabet by 1.0% in 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 buying an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. boosted 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 acquiring an additional 65 shares during the last quarter. 40.03% of the stock is owned by 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.