Alphabet (NASDAQ:GOOGL) PT Lowered to $208.00

Alphabet (NASDAQ:GOOGL) had its price target trimmed by The Goldman Sachs Group from $217.00 to $208.00 in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a buy rating on the information services provider’s stock.

Other analysts also recently issued reports about the stock. DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a neutral rating and a $170.00 price target on the stock. Evercore ISI decreased their target price on Alphabet from $225.00 to $200.00 and set an outperform rating on the stock in a research report on Monday, September 16th. Needham & Company LLC restated a buy rating and set a $210.00 price target on shares of Alphabet in a report on Friday, August 30th. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Finally, Loop Capital reiterated a hold rating and set a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of Moderate Buy and a consensus target price of $201.13.

Alphabet Price Performance

Shares of Alphabet stock opened at $164.96 on Monday. 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 has a 52 week low of $120.21 and a 52 week high of $191.75. The stock’s 50-day simple moving average is $161.49 and its 200-day simple moving average is $167.96. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate 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 company posted $1.44 EPS. As a group, analysts expect that Alphabet will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid 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 was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the 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 sale, 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 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. 11.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter worth approximately $30,000. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter valued at approximately $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.