Alphabet (NASDAQ:GOOGL) PT Raised to $210.00

Alphabet (NASDAQ:GOOGL) had its price objective increased by Needham & Company LLC from $160.00 to $210.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group increased their price objective on Alphabet from $180.00 to $190.00 and gave the stock a buy rating in a report on Wednesday, April 17th. KeyCorp increased their target price on Alphabet from $165.00 to $175.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. Redburn Atlantic raised their price objective on Alphabet from $150.00 to $165.00 and gave the company a buy rating in a research report on Wednesday, January 31st. UBS Group raised their price objective on Alphabet from $150.00 to $166.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $187.82.

Alphabet Price Performance

GOOGL opened at $171.95 on Friday. The stock has a 50-day moving average price of $147.85 and a 200-day moving average price of $141.39. Alphabet has a 12-month low of $103.54 and a 12-month high of $174.71. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05.

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 company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations 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 EPS. Equities analysts predict that Alphabet will post 6.79 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid 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 dividend payout ratio (DPR) is 12.27%.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. FMR LLC raised its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. Norges Bank purchased a new stake in Alphabet during the fourth quarter valued at approximately $15,441,917,000. Northern Trust Corp raised its position in Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares during the period. Finally, Fisher Asset Management LLC raised its position in Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after purchasing an additional 1,472,043 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.