Alphabet (NASDAQ:GOOGL) PT Lowered to $182.00 at Wells Fargo & Company

Alphabet (NASDAQ:GOOGL) had its price target reduced by Wells Fargo & Company from $190.00 to $182.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the information services provider’s stock.

Other analysts have also recently issued research reports about the stock. Truist Financial reaffirmed a buy rating and issued a $196.00 target price on shares of Alphabet in a report on Monday, September 16th. Wolfe Research initiated coverage on Alphabet in a research report on Tuesday, July 16th. They issued an outperform rating and a $240.00 target price for the company. Needham & Company LLC reissued a buy rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, August 30th. Cantor Fitzgerald reaffirmed a neutral rating and set a $190.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Finally, Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of Moderate Buy and an average target price of $201.14.

Alphabet Stock Up 0.7 %

NASDAQ GOOGL opened at $167.06 on Wednesday. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $162.06 and its 200-day simple moving average is $167.28. The firm has a market cap of $2.06 trillion, a PE ratio of 25.62, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the firm earned $1.44 EPS. As a group, equities analysts anticipate that Alphabet will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 over the last quarter. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter worth $36,000. Finally, Denver PWM LLC acquired a new position in shares of Alphabet during the 2nd quarter worth $41,000. 40.03% of the stock is 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.