Analysts Set Alphabet Inc. (NASDAQ:GOOGL) PT at $193.26

Shares of Alphabet Inc. (NASDAQ:GOOGLGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirty-six analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $193.26.

Several equities analysts have recently issued reports on GOOGL shares. Jefferies Financial Group lifted their target price on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. Morgan Stanley reiterated an “overweight” rating and set a $195.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Evercore ISI raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Roth Mkm raised their price target on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Raymond James raised their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th.

Read Our Latest Stock Analysis on Alphabet

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders have sold a total of 135,958 shares of company stock worth $22,383,553 in the last three months. Insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently added to or reduced their stakes in GOOGL. WealthPlan Investment Management LLC lifted its position in Alphabet by 17.0% during the third quarter. WealthPlan Investment Management LLC now owns 13,891 shares of the information services provider’s stock valued at $1,818,000 after acquiring an additional 2,017 shares during the last quarter. Concentric Wealth Management LLC lifted its position in Alphabet by 2.3% during the third quarter. Concentric Wealth Management LLC now owns 73,494 shares of the information services provider’s stock valued at $9,617,000 after acquiring an additional 1,679 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in Alphabet by 54.8% during the third quarter. Jupiter Asset Management Ltd. now owns 1,255,295 shares of the information services provider’s stock valued at $164,268,000 after acquiring an additional 444,224 shares during the last quarter. Davidson Trust Co. lifted its position in Alphabet by 2.8% during the third quarter. Davidson Trust Co. now owns 7,220 shares of the information services provider’s stock valued at $945,000 after acquiring an additional 200 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Alphabet during the third quarter valued at approximately $28,324,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock opened at $179.63 on Wednesday. Alphabet has a 1 year low of $115.35 and a 1 year high of $180.85. The company has a market cap of $2.22 trillion, a P/E ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01. The firm has a 50-day moving average of $170.05 and a 200 day moving average of $152.72. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet 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, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. On average, sell-side analysts forecast that Alphabet will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Alphabet Company Profile

(Get Free Report

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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