Alphabet (NASDAQ:GOOGL) Price Target Raised to $212.00

Alphabet (NASDAQ:GOOGL) had its price target lifted by Roth Mkm from $206.00 to $212.00 in a report published on Wednesday, Benzinga reports. Roth Mkm currently has a buy rating on the information services provider’s stock.

GOOGL has been the subject of several other research reports. Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Mizuho raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group raised their price target on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Bank of America raised their price target on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Up 0.1 %

NASDAQ GOOGL opened at $171.29 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The firm has a 50-day simple moving average of $162.43 and a 200 day simple moving average of $169.01. Alphabet has a twelve month low of $126.93 and a twelve month high of $191.75. The stock has a market cap of $2.11 trillion, a PE ratio of 22.72, a PEG ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. On average, research analysts forecast that Alphabet will post 7.91 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock valued at $37,776,954 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Large investors have recently modified their holdings of the business. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet in the 2nd quarter valued at about $36,000. Tributary Capital Management LLC acquired a new stake in Alphabet in the 1st quarter valued at about $30,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter valued at about $41,000. Finally, Quarry LP acquired a new stake in Alphabet in the 2nd quarter valued at about $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.