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

Alphabet (NASDAQ:GOOGL) had its target price increased by Roth Mkm from $206.00 to $212.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

A number of other equities research analysts have also recently issued reports on GOOGL. Jefferies Financial Group increased their target price on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. UBS Group increased their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Loop Capital restated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $0.18 during trading hours on Wednesday, reaching $171.29. The stock had a trading volume of 31,796,477 shares, compared to its average volume of 27,244,912. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The business’s fifty day moving average is $162.43 and its two-hundred day moving average is $168.91. Alphabet has a twelve month low of $126.93 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the company earned $1.55 EPS. As a group, research analysts expect that Alphabet will post 7.85 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 10.61%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet 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 owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on 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 sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,244 shares of company stock worth $37,776,954. Corporate insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Costello Asset Management INC increased its holdings in Alphabet by 0.9% in the 3rd quarter. Costello Asset Management INC now owns 30,638 shares of the information services provider’s stock valued at $5,081,000 after buying an additional 267 shares during the period. Rocky Mountain Advisers LLC boosted its position in shares of Alphabet by 33.2% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 3,210 shares of the information services provider’s stock worth $532,000 after acquiring an additional 800 shares in the last quarter. 17 Capital Partners LLC increased its stake in Alphabet by 4.2% in the third quarter. 17 Capital Partners LLC now owns 19,985 shares of the information services provider’s stock valued at $3,315,000 after acquiring an additional 800 shares during the last quarter. Mach 1 Financial Group LLC raised its position in Alphabet by 12.7% during the third quarter. Mach 1 Financial Group LLC now owns 5,242 shares of the information services provider’s stock valued at $869,000 after purchasing an additional 591 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its stake in Alphabet by 1.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 414,394 shares of the information services provider’s stock worth $68,728,000 after purchasing an additional 4,035 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.