Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00 at Royal Bank of Canada

Alphabet (NASDAQ:GOOGL) had its target price raised by Royal Bank of Canada from $155.00 to $200.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

Other analysts have also issued reports about the stock. Robert W. Baird boosted their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock an outperform rating in a research note on Friday. JMP Securities upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock a market outperform rating in a research note on Friday. BMO Capital Markets restated an outperform rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a positive rating in a research note on Wednesday, January 31st. Finally, KeyCorp upped their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $187.82.

Alphabet Stock Up 10.2 %

Shares of NASDAQ:GOOGL opened at $171.95 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization 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. The firm’s 50-day moving average is $147.85 and its two-hundred day moving average is $141.39. Alphabet has a 1 year low of $103.54 and a 1 year high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same period in the prior year, the firm earned $1.05 earnings per share. Analysts predict that Alphabet will post 6.79 EPS 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 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 is presently 12.27%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, 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 filing with the SEC, which is available through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. 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 three months. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Tributary Capital Management LLC purchased a new position in Alphabet in the first quarter worth $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet in the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $38,000. Richardson Capital Management LLC increased its position in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares in the last quarter. Finally, Meritage Group LP increased its position in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares in the last quarter. 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.