Alphabet (NASDAQ:GOOGL) Price Target Raised to $210.00 at Canaccord Genuity Group

Alphabet (NASDAQ:GOOGL) had its target price increased by Canaccord Genuity Group from $190.00 to $210.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

Other analysts also recently issued reports about the company. UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the company a positive rating in a research report on Wednesday, January 31st. Wells Fargo & Company decreased their price target on Alphabet from $144.00 to $141.00 and set an equal weight rating for the company in a research report on Wednesday, April 3rd. Redburn Atlantic increased their price target on Alphabet from $150.00 to $165.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $185.00 price target (up from $178.00) on shares of Alphabet in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $187.82.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.95 on Friday. The company has a market cap of $2.14 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet has a 52 week low of $103.54 and a 52 week high of $174.71. The business has a 50 day moving average price of $147.85 and a 200-day moving average price of $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 (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same period in the prior year, the business posted $1.05 earnings per share. Equities analysts anticipate that Alphabet will post 6.79 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock valued at $36,746,578 over the last three months. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GOOGL. Norges Bank purchased a new position in shares of Alphabet in the fourth quarter worth about $15,441,917,000. FMR LLC increased its holdings in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 shares during the period. Hedge funds and other institutional investors 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.