Alphabet (NASDAQ:GOOGL) Given New $202.00 Price Target at Roth Mkm

Alphabet (NASDAQ:GOOGL) had its price objective raised by Roth Mkm from $164.00 to $202.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Several other brokerages also recently weighed in on GOOGL. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $165.00 to $200.00 and gave the company an overweight rating in a report on Friday. Wolfe Research boosted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock an outperform rating in a report on Friday. Raymond James boosted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an outperform rating in a report on Friday. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a buy rating in a report on Friday. Finally, Evercore ISI boosted their price objective on shares of Alphabet from $160.00 to $220.00 and gave the stock an outperform rating in a report on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $187.82.

Alphabet Stock Up 10.2 %

Shares of NASDAQ:GOOGL opened at $171.95 on Friday. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. The firm’s 50-day simple moving average is $147.85 and its 200-day simple moving average is $141.39. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a fifty-two week low of $103.54 and a fifty-two week high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for 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 quarter in the previous year, the firm earned $1.05 earnings per share. As a group, equities research analysts predict that Alphabet will post 6.79 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently bought and sold shares of the stock. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter worth approximately $38,000. Richardson Capital Management LLC grew its stake in Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares during the period. Finally, Meritage Group LP grew its stake in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

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.