Alphabet (NASDAQ:GOOGL) Given New $190.00 Price Target at Truist Financial

Alphabet (NASDAQ:GOOGL) had its target price raised by Truist Financial from $170.00 to $190.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the information services provider’s stock.

GOOGL has been the subject of several other reports. BMO Capital Markets restated an outperform rating and issued a $185.00 target price (up from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Morgan Stanley raised their target price on Alphabet from $165.00 to $195.00 and gave the company an overweight rating in a research note on Friday. Redburn Atlantic raised their target price on Alphabet from $150.00 to $165.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Jefferies Financial Group raised their price target on shares of Alphabet from $180.00 to $200.00 and gave the company a buy rating in a research report on Friday. Finally, Roth Mkm dropped their price target on shares of Alphabet from $166.00 to $164.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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 current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $147.85 and a two-hundred day moving average price of $141.39. Alphabet has a 1-year low of $103.54 and a 1-year high of $174.71. The company has a market cap 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 quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the business posted $1.05 EPS. As a group, analysts anticipate that Alphabet will post 6.79 EPS for the current year.

Alphabet Announces Dividend

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,439 shares of company stock valued at $36,746,578. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kellett Wealth Advisors LLC grew its holdings in Alphabet by 5.1% in the first quarter. Kellett Wealth Advisors LLC now owns 2,688 shares of the information services provider’s stock worth $406,000 after purchasing an additional 130 shares during the period. Phoenix Wealth Advisors grew its holdings in Alphabet by 4.5% in the first quarter. Phoenix Wealth Advisors now owns 2,785 shares of the information services provider’s stock worth $420,000 after purchasing an additional 120 shares during the period. Fonville Wealth Management LLC grew its holdings in Alphabet by 6.7% in the first quarter. Fonville Wealth Management LLC now owns 1,598 shares of the information services provider’s stock worth $241,000 after purchasing an additional 100 shares during the period. Finer Wealth Management Inc. grew its holdings in Alphabet by 4.0% in the first quarter. Finer Wealth Management Inc. now owns 36,365 shares of the information services provider’s stock worth $5,489,000 after purchasing an additional 1,396 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its holdings in Alphabet by 4.8% in the first quarter. Foster Victor Wealth Advisors LLC now owns 132,521 shares of the information services provider’s stock worth $21,125,000 after purchasing an additional 6,082 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.