Truist Financial Issues Positive Forecast for Alphabet (NASDAQ:GOOGL) Stock Price

Alphabet (NASDAQ:GOOGL) had its price objective lifted by Truist Financial from $220.00 to $225.00 in a research note released on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Wolfe Research began coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, September 25th. The Goldman Sachs Group decreased their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price target on shares of Alphabet in a research note on Monday, September 30th. Finally, DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Trading Up 0.1 %

Shares of GOOGL stock opened at $171.29 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a 50 day moving average price of $162.43 and a 200 day moving average price of $169.01. Alphabet has a fifty-two week low of $126.93 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 earnings per share. Equities research analysts predict that Alphabet will post 7.91 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 230,244 shares of company stock valued at $37,776,954. 11.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in GOOGL. Burns J W & Co. Inc. NY grew its stake in shares of Alphabet by 7.4% during the 1st quarter. Burns J W & Co. Inc. NY now owns 24,861 shares of the information services provider’s stock worth $3,752,000 after purchasing an additional 1,720 shares during the period. Grimes & Company Inc. boosted its position in shares of Alphabet by 1.6% in the 1st quarter. Grimes & Company Inc. now owns 176,121 shares of the information services provider’s stock worth $26,582,000 after buying an additional 2,727 shares in the last quarter. Saratoga Research & Investment Management boosted its position in shares of Alphabet by 19.1% in the 1st quarter. Saratoga Research & Investment Management now owns 1,001,128 shares of the information services provider’s stock worth $151,100,000 after buying an additional 160,884 shares in the last quarter. First Bank & Trust boosted its position in shares of Alphabet by 2.5% in the 1st quarter. First Bank & Trust now owns 9,694 shares of the information services provider’s stock worth $1,463,000 after buying an additional 239 shares in the last quarter. Finally, Baker Ellis Asset Management LLC boosted its position in shares of Alphabet by 5.7% in the 1st quarter. Baker Ellis Asset Management LLC now owns 21,355 shares of the information services provider’s stock worth $3,223,000 after buying an additional 1,150 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.