Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00

Alphabet (NASDAQ:GOOGL) had its price objective boosted by DA Davidson from $190.00 to $200.00 in a research report report published on Friday,Benzinga reports. DA Davidson currently has a neutral rating on the information services provider’s stock.

Several other research analysts have also issued reports on the stock. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Wedbush increased their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company boosted their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $209.44.

Alphabet Price Performance

Shares of GOOGL stock opened at $200.21 on Friday. Alphabet has a 12 month low of $130.66 and a 12 month high of $202.29. The company has a market capitalization of $2.45 trillion, a P/E ratio of 26.55, a P/E/G ratio of 1.27 and a beta of 0.98. The stock has a 50 day moving average of $185.91 and a two-hundred day moving average of $173.72. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm 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 period last year, the business earned $1.55 earnings per share. As a group, equities analysts expect that Alphabet will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the company. NINE MASTS CAPITAL Ltd increased its position in shares of Alphabet by 33.4% in the second quarter. NINE MASTS CAPITAL Ltd now owns 196,304 shares of the information services provider’s stock valued at $35,757,000 after acquiring an additional 49,203 shares during the last quarter. Investment Partners LTD. grew its stake in Alphabet by 14.7% in the second quarter. Investment Partners LTD. now owns 5,396 shares of the information services provider’s stock valued at $983,000 after purchasing an additional 690 shares in the last quarter. Beverly Hills Private Wealth LLC increased its position in shares of Alphabet by 15.1% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 11,845 shares of the information services provider’s stock worth $2,158,000 after purchasing an additional 1,551 shares during the last quarter. Lansing Street Advisors raised its stake in shares of Alphabet by 10.9% during the 2nd quarter. Lansing Street Advisors now owns 8,274 shares of the information services provider’s stock worth $1,507,000 after purchasing an additional 810 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Alphabet by 6.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 15,879 shares of the information services provider’s stock valued at $2,892,000 after buying an additional 951 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.