UBS Group Trims Alphabet (NASDAQ:GOOG) Target Price to $187.00

Alphabet (NASDAQ:GOOG - Free Report) had its target price lowered by UBS Group from $204.00 to $187.00 in a research note issued to investors on Monday morning, Benzinga reports. UBS Group currently has a neutral rating on the information services provider's stock.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald raised Alphabet to a hold rating in a report on Thursday, September 5th. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the company a buy rating in a report on Wednesday, July 10th. Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an outperform rating for the company in a research report on Wednesday, September 25th. Wolfe Research upgraded shares of Alphabet to a strong-buy rating in a research report on Tuesday, July 16th. Finally, Pivotal Research assumed coverage on shares of Alphabet in a research note on Tuesday, October 1st. They issued a buy rating and a $215.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $184.11.

Alphabet Trading Down 2.5 %

Shares of NASDAQ:GOOG traded down $4.17 during midday trading on Monday, hitting $164.39. 13,997,739 shares of the stock were exchanged, compared to its average volume of 19,917,268. The business's 50-day moving average price is $163.53 and its 200 day moving average price is $168.91. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet has a 12 month low of $121.46 and a 12 month high of $193.31. 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 (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) 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 analysts' expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company's revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 EPS. Analysts predict that Alphabet will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company's stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company's stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 29,324 shares of the company's stock, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,592 shares of company stock worth $35,922,911. Company insiders own 12.99% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GOOG. Abich Financial Wealth Management LLC grew its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider's stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP bought a new stake in shares of Alphabet during the 2nd quarter worth $40,000. Richardson Financial Services Inc. purchased a new position in shares of Alphabet in the 4th quarter worth about $34,000. Finally, Slocum Gordon & Co LLP purchased a new position in shares of Alphabet in the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 27.26% 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.