Alphabet’s (GOOGL) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Alphabet (NASDAQ:GOOGL) in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a $410.00 target price on the information services provider’s stock.

Several other research analysts also recently issued reports on GOOGL. Citigroup reaffirmed an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. BNP Paribas Exane upped their price target on Alphabet from $390.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Mizuho raised their price target on Alphabet from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. The Goldman Sachs Group raised their price target on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a research report on Wednesday, June 3rd. Six research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average price target of $420.19.

Alphabet Price Performance

Shares of GOOGL stock opened at $344.82 on Thursday. Alphabet has a 1 year low of $201.30 and a 1 year high of $408.61. The firm’s 50 day moving average is $352.00 and its 200-day moving average is $341.37. The firm has a market capitalization of $4.22 trillion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.97 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. The business had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Sell-side analysts forecast that Alphabet will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 4.42%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer owned 27,386 shares of the company’s stock, valued at $9,125,015.20. This represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 451,945 shares of company stock worth $12,382,714. Company insiders own 11.61% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Nilsine Partners LLC increased its stake in Alphabet by 1.3% in the second quarter. Nilsine Partners LLC now owns 28,424 shares of the information services provider’s stock valued at $10,158,000 after purchasing an additional 355 shares in the last quarter. Saudi Central Bank raised its holdings in Alphabet by 89.7% in the second quarter. Saudi Central Bank now owns 407,542 shares of the information services provider’s stock worth $145,643,000 after purchasing an additional 192,728 shares during the period. Hutchens & Kramer Investment Management Group LLC boosted its position in shares of Alphabet by 62.4% during the second quarter. Hutchens & Kramer Investment Management Group LLC now owns 5,654 shares of the information services provider’s stock worth $2,021,000 after purchasing an additional 2,173 shares in the last quarter. Asset Allocation Strategies LLC boosted its position in shares of Alphabet by 3.4% during the second quarter. Asset Allocation Strategies LLC now owns 1,439 shares of the information services provider’s stock worth $514,000 after purchasing an additional 47 shares in the last quarter. Finally, Semitam Bonam LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $214,000. Institutional investors own 40.03% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.