Alphabet (NASDAQ:GOOGL - Free Report) had its target price decreased by Stifel Nicolaus from $225.00 to $192.00 in a research note released on Wednesday morning, Marketbeat reports. Stifel Nicolaus currently has a buy rating on the information services provider's stock.
Several other research analysts have also issued reports on the stock. Rosenblatt Securities reissued a "neutral" rating and set a $205.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Mizuho reduced their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Truist Financial dropped their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research note on Thursday, April 10th. Finally, Needham & Company LLC restated a "buy" rating and set a $178.00 price objective on shares of Alphabet in a report on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $199.03.
Check Out Our Latest Analysis on GOOGL
Alphabet Trading Up 1.7 %
NASDAQ:GOOGL traded up $2.68 on Wednesday, reaching $161.96. 55,957,898 shares of the stock traded hands, compared to its average volume of 28,435,946. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet has a 1-year low of $140.53 and a 1-year high of $207.05. The company's 50 day moving average is $162.18 and its 200-day moving average is $175.43. The firm has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. Equities research analysts anticipate that Alphabet will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. Alphabet's dividend payout ratio (DPR) is 9.94%.
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock valued at $25,361,647 in the last three months. 11.55% of the stock is owned by insiders.
Institutional Investors Weigh In On Alphabet
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock worth $1,871,384,000 after acquiring an additional 337,031 shares in the last quarter. Passumpsic Savings Bank grew its stake in Alphabet by 38.0% during the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider's stock worth $779,000 after purchasing an additional 1,294 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in Alphabet by 0.5% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider's stock valued at $6,199,000 after purchasing an additional 202 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Alphabet by 6.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider's stock valued at $382,000 after buying an additional 130 shares during the period. Finally, Te Ahumairangi Investment Management Ltd grew its position in shares of Alphabet by 19.2% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider's stock worth $22,703,000 after buying an additional 22,169 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
About Alphabet
(
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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.
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