Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at Wolfe Research

Alphabet (NASDAQ:GOOGL) had its price target lifted by Wolfe Research from $180.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

Other equities analysts also recently issued reports about the stock. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a positive rating in a research note on Wednesday, January 31st. Mizuho upped their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a report on Friday. Royal Bank of Canada restated an outperform rating and issued a $155.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Roth Mkm cut their price objective on shares of Alphabet from $166.00 to $164.00 and set a buy rating on the stock in a report on Wednesday, January 31st. Finally, Wedbush restated an outperform rating and issued a $175.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of Moderate Buy and a consensus price target of $187.82.

Alphabet Stock Performance

Alphabet stock opened at $171.95 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. The firm has a fifty day simple moving average of $147.85 and a two-hundred day simple moving average of $141.39. Alphabet has a twelve month low of $103.54 and a twelve month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same period in the previous year, the firm posted $1.05 earnings per share. Research analysts expect that Alphabet will post 6.79 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GOOGL. Kellett Wealth Advisors LLC lifted its stake in shares of Alphabet by 5.1% in the first quarter. Kellett Wealth Advisors LLC now owns 2,688 shares of the information services provider’s stock worth $406,000 after buying an additional 130 shares in the last quarter. Phoenix Wealth Advisors grew its holdings in shares of Alphabet by 4.5% in the first quarter. Phoenix Wealth Advisors now owns 2,785 shares of the information services provider’s stock valued at $420,000 after purchasing an additional 120 shares in the last quarter. Fonville Wealth Management LLC lifted its stake in Alphabet by 6.7% in the first quarter. Fonville Wealth Management LLC now owns 1,598 shares of the information services provider’s stock worth $241,000 after acquiring an additional 100 shares during the last quarter. Finer Wealth Management Inc. lifted its stake in Alphabet by 4.0% in the first quarter. Finer Wealth Management Inc. now owns 36,365 shares of the information services provider’s stock worth $5,489,000 after acquiring an additional 1,396 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its position in shares of Alphabet by 4.8% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 132,521 shares of the information services provider’s stock worth $21,125,000 after buying an additional 6,082 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.