KeyCorp Has Lowered Expectations for Alphabet (NASDAQ:GOOGL) Stock Price

Alphabet (NASDAQ:GOOGL) had its target price trimmed by KeyCorp from $220.00 to $202.00 in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm currently has an overweight rating on the information services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. The Goldman Sachs Group restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Wolfe Research increased their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Piper Sandler lowered their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Price Performance

GOOGL opened at $162.80 on Tuesday. The stock has a 50-day moving average price of $183.13 and a 200-day moving average price of $176.37. Alphabet has a 12-month low of $146.90 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.98 trillion, a P/E ratio of 20.22, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts predict that Alphabet will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock worth $17,374,274. Insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently modified their holdings of the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the 4th quarter worth $30,000. LMR Partners LLP purchased a new position in shares of Alphabet in the 3rd quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter worth $39,000. Finally, PayPay Securities Corp boosted its stake in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the last quarter. 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.