Evercore ISI Lowers Alphabet (NASDAQ:GOOGL) Price Target to $200.00

Alphabet (NASDAQ:GOOGL) had its price target cut by Evercore ISI from $225.00 to $200.00 in a report issued on Monday morning, Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

A number of other equities research analysts have also commented on the company. Roth Mkm reiterated a buy rating and issued a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Wedbush reiterated an outperform rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. Rosenblatt Securities restated a neutral rating and set a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. Guggenheim upped their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price objective on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $201.08.

Alphabet Stock Up 0.4 %

Shares of NASDAQ GOOGL opened at $158.06 on Monday. Alphabet has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $1.95 trillion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a 50 day simple moving average of $166.84 and a 200 day simple moving average of $165.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the firm earned $1.44 earnings per share. On average, research analysts forecast that Alphabet will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet 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 sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock valued at $30,139,931 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Large investors have recently bought and sold shares of the company. Norges Bank bought a new position in Alphabet in the 4th quarter worth approximately $15,441,917,000. Capital Research Global Investors boosted its holdings in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares during the period. Vanguard Group Inc. grew its position in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the period. Finally, Wulff Hansen & CO. boosted its stake in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the period. 40.03% of the stock is owned by hedge funds and other 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.