Alphabet (NASDAQ:GOOG) Downgraded by Rosenblatt Securities

Rosenblatt Securities downgraded shares of Alphabet (NASDAQ:GOOGFree Report) from a buy rating to a neutral rating in a report released on Friday morning, MarketBeat reports. They currently have $181.00 price objective on the information services provider’s stock.

Several other equities research analysts have also recently issued reports on the company. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Morgan Stanley reaffirmed an overweight rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the stock an outperform rating in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $167.86.

View Our Latest Analysis on Alphabet

Alphabet Price Performance

Shares of Alphabet stock opened at $183.42 on Friday. The stock’s 50-day simple moving average is $174.40 and its 200-day simple moving average is $155.84. Alphabet has a 52 week low of $115.83 and a 52 week high of $187.50. The company has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The business’s revenue was up 15.4% on a year-over-year basis. As a group, analysts expect that Alphabet will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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 that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 143,026 shares of company stock worth $24,026,243 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

A number of large investors have recently modified their holdings of the company. Waverly Advisors LLC lifted its holdings in Alphabet by 11.9% during the third quarter. Waverly Advisors LLC now owns 22,927 shares of the information services provider’s stock worth $3,023,000 after buying an additional 2,433 shares during the period. Gateway Advisory LLC lifted its holdings in Alphabet by 11.5% during the third quarter. Gateway Advisory LLC now owns 40,074 shares of the information services provider’s stock worth $5,294,000 after buying an additional 4,131 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Alphabet by 51.1% during the third quarter. SRS Capital Advisors Inc. now owns 11,972 shares of the information services provider’s stock worth $1,579,000 after buying an additional 4,049 shares during the period. Becker Capital Management Inc. lifted its holdings in Alphabet by 1.8% during the third quarter. Becker Capital Management Inc. now owns 39,385 shares of the information services provider’s stock worth $5,193,000 after buying an additional 697 shares during the period. Finally, Truist Financial Corp lifted its holdings in Alphabet by 9.7% during the third quarter. Truist Financial Corp now owns 4,529,983 shares of the information services provider’s stock worth $597,278,000 after buying an additional 401,501 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

About Alphabet

(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.

See Also

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.