Evercore ISI Increases Alphabet (NASDAQ:GOOGL) Price Target to $220.00

Alphabet (NASDAQ:GOOGL) had its price target increased by Evercore ISI from $160.00 to $220.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

Other research analysts have also issued reports about the company. Morgan Stanley raised their price objective on Alphabet from $165.00 to $195.00 and gave the company an overweight rating in a research report on Friday. Barclays boosted their price target on Alphabet from $173.00 to $200.00 and gave the stock an overweight rating in a research report on Friday. Roth Mkm lowered their price objective on shares of Alphabet from $166.00 to $164.00 and set a buy rating for the company in a research report on Wednesday, January 31st. Mizuho boosted their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a research report on Friday. Finally, Jefferies Financial Group upped their target price on shares of Alphabet from $175.00 to $180.00 and gave the company a buy rating in a research note on Friday, April 19th. Five research 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, Alphabet presently has an average rating of Moderate Buy and an average target price of $189.44.

Alphabet Stock Down 3.4 %

Shares of NASDAQ:GOOGL opened at $166.15 on Friday. The stock has a 50-day simple moving average of $148.36 and a 200-day simple moving average of $141.62. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05. Alphabet has a 1 year low of $103.71 and a 1 year high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the company posted $1.17 earnings per share. Equities analysts forecast that Alphabet will post 6.82 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, June 10th.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on 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 accessible through this link. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated 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 in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders sold 253,209 shares of company stock worth $36,711,144 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GOOGL. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter valued at $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at $38,000. Meritage Group LP raised its stake in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC lifted its holdings in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after buying an additional 199 shares during the period. 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.