Alphabet (NASDAQ:GOOG) Price Target Raised to $212.00

Alphabet (NASDAQ:GOOG) had its price target boosted by JPMorgan Chase & Co. from $208.00 to $212.00 in a research note released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the information services provider’s stock.

Several other research firms have also weighed in on GOOG. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup increased their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Trading Down 0.0 %

NASDAQ:GOOG opened at $172.65 on Wednesday. Alphabet has a 52 week low of $128.11 and a 52 week high of $193.31. The firm has a 50-day moving average price of $163.81 and a two-hundred day moving average price of $170.43. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. On average, equities analysts expect that Alphabet will post 7.83 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,244 shares of company stock worth $37,776,954. 12.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently bought and sold shares of GOOG. Cullinan Associates Inc. grew its position in Alphabet by 8.4% in the first quarter. Cullinan Associates Inc. now owns 124,621 shares of the information services provider’s stock worth $18,975,000 after acquiring an additional 9,612 shares in the last quarter. Westhampton Capital LLC boosted its holdings in shares of Alphabet by 23.9% in the 1st quarter. Westhampton Capital LLC now owns 4,040 shares of the information services provider’s stock worth $615,000 after purchasing an additional 780 shares in the last quarter. Deepwater Asset Management LLC increased its position in shares of Alphabet by 18.5% during the 1st quarter. Deepwater Asset Management LLC now owns 89,082 shares of the information services provider’s stock valued at $13,564,000 after purchasing an additional 13,927 shares during the last quarter. Exchange Capital Management Inc. increased its position in shares of Alphabet by 2.9% during the 1st quarter. Exchange Capital Management Inc. now owns 6,091 shares of the information services provider’s stock valued at $927,000 after purchasing an additional 170 shares during the last quarter. Finally, Financial Strategies Group Inc. raised its holdings in shares of Alphabet by 22.8% during the 1st quarter. Financial Strategies Group Inc. now owns 43,876 shares of the information services provider’s stock valued at $6,939,000 after buying an additional 8,156 shares in the last quarter. 27.26% of the stock is currently 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.