Alphabet (NASDAQ:GOOGL) Price Target Lowered to $215.00 at BMO Capital Markets

Alphabet (NASDAQ:GOOGL) had its price objective cut by BMO Capital Markets from $222.00 to $215.00 in a report published on Wednesday morning, MarketBeat reports. They currently have an outperform rating on the information services provider’s stock.

Several other equities analysts have also commented on GOOGL. Cantor Fitzgerald reaffirmed a neutral rating and set a $190.00 target price on shares of Alphabet in a report on Monday, October 7th. Wolfe Research assumed coverage on Alphabet in a report on Tuesday, July 16th. They set an outperform rating and a $240.00 target price for the company. Needham & Company LLC reaffirmed a buy rating and set a $210.00 target price on shares of Alphabet in a report on Friday, August 30th. JMP Securities reaffirmed a market outperform rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, September 25th. Finally, Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the company a strong-buy rating in a report on Thursday, September 26th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $200.95.

Alphabet Trading Up 0.7 %

NASDAQ:GOOGL opened at $163.24 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet has a one year low of $120.21 and a one year high of $191.75. The business’s 50-day simple moving average is $161.37 and its 200 day simple moving average is $167.75. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company earned $1.44 earnings per share. As a group, sell-side analysts predict that Alphabet will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock valued at $35,644,136 over the last three months. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nebula Research & Development LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $787,000. New Hampshire Trust increased its holdings in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP increased its holdings in shares of Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after buying an additional 2,351 shares in the last quarter. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Alphabet during the first quarter worth approximately $842,000. Institutional investors 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.