Alphabet (NASDAQ:GOOGL) Stock Rating Reaffirmed by Cantor Fitzgerald

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

Other equities research analysts have also recently issued reports about the stock. Rosenblatt Securities reaffirmed a neutral rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. TD Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. BMO Capital Markets reaffirmed an outperform rating and issued a $222.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Finally, JMP Securities reiterated a market outperform rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $201.14.

Alphabet Trading Down 0.7 %

Shares of NASDAQ GOOGL opened at $165.86 on Monday. The company’s fifty day moving average is $162.08 and its 200-day moving average is $167.01. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company 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 period last year, the firm posted $1.44 earnings per share. Equities research analysts predict that Alphabet will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 in the last quarter. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased 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 during the period. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth $36,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $30,000. Finally, Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.