Alphabet (NASDAQ:GOOGL – Free Report) had its target price lifted by Jefferies Financial Group from $215.00 to $220.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports.
Other equities analysts also recently issued research reports about the stock. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Susquehanna raised their price target on shares of Alphabet from $170.00 to $225.00 and gave the stock a positive rating in a report on Monday, April 29th. Barclays raised their price target on shares of Alphabet from $173.00 to $200.00 and gave the stock an overweight rating in a report on Friday, April 26th. TD Cowen raised their price target on shares of Alphabet from $170.00 to $200.00 and gave the stock a buy rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alphabet from $165.00 to $200.00 and gave the stock an overweight rating in a report on Friday, April 26th. Six 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 company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $195.06.
Read Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the firm earned $1.17 earnings per share. As a group, equities analysts expect that Alphabet will post 7.6 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.
Insider Activity
In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold a total of 122,988 shares of company stock valued at $21,015,755 over the last quarter. Company insiders own 11.55% of the company’s stock.
Institutional Trading of Alphabet
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC increased its holdings in Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after acquiring an additional 64 shares during the period. Sunflower Bank N.A. increased its holdings in Alphabet by 1.0% during the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after acquiring an additional 65 shares during the period. M. Kraus & Co grew its stake in Alphabet by 1.1% in the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after buying an additional 66 shares in the last quarter. Wynn Capital LLC grew its stake in Alphabet by 3.9% in the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after buying an additional 67 shares in the last quarter. Finally, Lwmg LLC grew its stake in Alphabet by 1.2% in the 2nd quarter. Lwmg LLC now owns 5,779 shares of the information services provider’s stock worth $1,053,000 after buying an additional 67 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
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.
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