Alphabet (NASDAQ:GOOGL) PT Raised to $210.00

Alphabet (NASDAQ:GOOGL) had its target price boosted by Needham & Company LLC from $160.00 to $210.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

GOOGL has been the topic of several other reports. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the stock a positive rating in a report on Wednesday, January 31st. Redburn Atlantic boosted their price target on Alphabet from $150.00 to $165.00 and gave the stock a buy rating in a report on Wednesday, January 31st. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the company an overweight rating in a report on Monday, April 22nd. Roth Mkm reduced their target price on Alphabet from $166.00 to $164.00 and set a buy rating on the stock in a report on Wednesday, January 31st. Finally, Wolfe Research upped their target price on Alphabet from $170.00 to $180.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $189.44.

Alphabet Stock Performance

Alphabet stock opened at $166.15 on Friday. The stock has a market cap of $2.07 trillion, a PE ratio of 25.48, a P/E/G ratio of 1.57 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $148.36 and its two-hundred day moving average price is $141.62. Alphabet has a 12-month low of $103.71 and a 12-month high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the business posted $1.17 earnings per share. As a group, analysts expect that Alphabet will post 6.82 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 253,209 shares of company stock valued at $36,711,144 over the last ninety days. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth $15,441,917,000. FMR LLC raised its stake in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. Vanguard Group Inc. raised its stake in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Alphabet by 4,894.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. 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.