Pivotal Research upgraded shares of Alphabet (NASDAQ:GOOGL - Free Report) to a strong-buy rating in a research report released on Tuesday morning, Zacks.com reports.
A number of other equities research analysts also recently commented on GOOGL. Piper Sandler reissued an overweight rating and issued a $200.00 price objective on shares of Alphabet in a research report on Monday. Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an outperform rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an equal weight rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a neutral rating and issued a $190.00 target price on shares of Alphabet in a research report on Monday. Finally, Bank of America increased their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $201.14.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Trading Down 0.7 %
Shares of GOOGL stock traded down $1.13 during trading hours on Tuesday, hitting $165.86. The company had a trading volume of 17,705,109 shares, compared to its average volume of 27,479,340. The company's fifty day moving average is $162.08 and its 200 day moving average is $167.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.05 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the business earned $1.44 EPS. Research analysts expect that Alphabet will post 7.63 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is presently 12.27%.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction 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 $5,264,112. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock worth $35,922,911 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Boltwood Capital Management lifted its position in Alphabet by 4.1% during the third quarter. Boltwood Capital Management now owns 22,707 shares of the information services provider's stock valued at $3,766,000 after buying an additional 884 shares in the last quarter. JLB & Associates Inc. lifted its position in shares of Alphabet by 36.6% during the third quarter. JLB & Associates Inc. now owns 24,229 shares of the information services provider's stock worth $4,051,000 after purchasing an additional 6,496 shares in the last quarter. Cascade Investment Advisors Inc. lifted its position in shares of Alphabet by 0.8% during the third quarter. Cascade Investment Advisors Inc. now owns 18,178 shares of the information services provider's stock worth $3,015,000 after purchasing an additional 148 shares in the last quarter. Trust Co. of Toledo NA OH lifted its position in shares of Alphabet by 3.4% during the third quarter. Trust Co. of Toledo NA OH now owns 94,880 shares of the information services provider's stock worth $15,736,000 after purchasing an additional 3,160 shares in the last quarter. Finally, Weybosset Research & Management LLC lifted its position in shares of Alphabet by 2,350.2% during the third quarter. Weybosset Research & Management LLC now owns 60,766 shares of the information services provider's stock worth $10,078,000 after purchasing an additional 58,286 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
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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