Alphabet (NASDAQ:GOOGL) Price Target Raised to $205.00

Alphabet (NASDAQ:GOOGL) had its price objective upped by Evercore ISI from $200.00 to $205.00 in a research note issued to investors on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the information services provider’s stock.

Several other equities research analysts also recently issued reports on GOOGL. Jefferies Financial Group raised their price objective on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. BMO Capital Markets restated an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday. Guggenheim lifted their target price on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet Stock Up 0.1 %

Alphabet stock opened at $171.29 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. Alphabet has a fifty-two week low of $126.93 and a fifty-two week high of $191.75. The firm has a fifty day moving average price of $162.43 and a two-hundred day moving average price of $168.91. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.29 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the firm earned $1.55 EPS. As a group, analysts forecast that Alphabet will post 7.85 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,244 shares of company stock valued at $37,776,954 in the last ninety days. 11.55% of the stock is owned by insiders.

Institutional Trading of Alphabet

A number of institutional investors have recently modified their holdings of the company. MorganRosel Wealth Management LLC grew its position in Alphabet by 3.6% in the second 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 in the last quarter. Hengehold Capital Management LLC grew its stake in shares of Alphabet by 0.8% during 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 during the last quarter. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% during 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 period. First PREMIER Bank grew its holdings in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC lifted its holdings in Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after buying an additional 62 shares in the last quarter. 40.03% of the stock is currently 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.