Alphabet (NASDAQ:GOOGL) PT Raised to $215.00

Alphabet (NASDAQ:GOOGL) had its price objective increased by Jefferies Financial Group from $200.00 to $215.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other research analysts also recently weighed in on the company. Oppenheimer raised their price target on Alphabet from $185.00 to $205.00 and gave the company an outperform rating in a research note on Friday, April 26th. Raymond James raised their price target on Alphabet from $160.00 to $200.00 and gave the company an outperform rating in a research note on Friday, April 26th. Loop Capital raised their price target on Alphabet from $155.00 to $170.00 and gave the company a hold rating in a research note on Wednesday, May 1st. Sanford C. Bernstein raised their price target on Alphabet from $165.00 to $180.00 and gave the company a market perform rating in a research note on Friday, April 26th. Finally, TD Cowen raised their price target on Alphabet from $170.00 to $200.00 and gave the company a buy rating in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $193.66.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $182.15 on Wednesday. Alphabet has a 1-year low of $115.35 and a 1-year high of $186.05. The business’s 50-day moving average price is $172.85 and its two-hundred day moving average price is $154.29. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.25 trillion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the firm posted $1.17 earnings per share. On average, equities analysts expect that Alphabet will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the company’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 completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the first quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet during the fourth quarter valued at about $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at about $38,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. Finally, Richardson Capital Management LLC increased its position in shares of Alphabet by 87.5% during 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 during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

About Alphabet

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.