Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by Wolfe Research from $180.00 to $200.00 in a research report released on Friday, Benzinga reports. Wolfe Research currently has an outperform rating on the information services provider’s stock.

A number of other brokerages also recently issued reports on GOOGL. Jefferies Financial Group boosted their price objective on Alphabet from $175.00 to $180.00 and gave the company a buy rating in a research note on Friday, April 19th. UBS Group boosted their price objective on Alphabet from $150.00 to $166.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Rosenblatt Securities boosted their price objective on Alphabet from $172.00 to $182.00 and gave the company a buy rating in a research note on Friday. Barclays upped their price target on Alphabet from $173.00 to $200.00 and gave the stock an overweight rating in a research note on Friday. Finally, JMP Securities reaffirmed a market outperform rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Five investment 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 MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $187.82.

Alphabet Stock Up 10.2 %

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

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same quarter in the previous year, the company posted $1.05 EPS. Analysts anticipate that Alphabet will post 6.79 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 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 Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s 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 directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s 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 directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. 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. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Large investors have recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the fourth quarter valued at about $30,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter valued at about $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. Meritage Group LP raised its position in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its stake in shares of Alphabet by 165.8% during 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 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.