UBS Group Raises Alphabet (NASDAQ:GOOGL) Price Target to $204.00

Alphabet (NASDAQ:GOOGL) had its price target hoisted by UBS Group from $200.00 to $204.00 in a research report released on Wednesday, MarketBeat reports. They currently have a neutral rating on the information services provider’s stock.

GOOGL has been the topic of several other reports. Evercore ISI boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock an outperform rating in a report on Tuesday, June 11th. TD Cowen boosted their target price on Alphabet from $170.00 to $200.00 and gave the stock a buy rating in a report on Friday, April 26th. Royal Bank of Canada boosted their target price on Alphabet from $155.00 to $200.00 and gave the stock an outperform rating in a report on Friday, April 26th. Sanford C. Bernstein boosted their target price on Alphabet from $165.00 to $180.00 and gave the stock a market perform rating in a report on Friday, April 26th. Finally, Citigroup boosted their target price on Alphabet from $168.00 to $190.00 and gave the stock a buy rating in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $203.74.

Alphabet Trading Down 0.2 %

GOOGL stock opened at $167.00 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 2.15 and a debt-to-equity ratio of 0.04. Alphabet has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.25 and a beta of 1.05. The business’s 50-day moving average is $179.04 and its 200 day moving average is $160.48.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the previous year, the firm posted $1.44 EPS. On average, sell-side analysts anticipate that Alphabet will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,388 shares of company stock valued at $21,497,609. 11.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently modified their holdings of the company. MorganRosel Wealth Management LLC boosted its stake in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares during the last quarter. Hengehold Capital Management LLC lifted its stake in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC lifted its stake in Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after buying an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its stake in Alphabet by 1.0% in the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after buying an additional 65 shares in 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.