Alphabet (NASDAQ:GOOG) Given New $210.00 Price Target at Oppenheimer

Alphabet (NASDAQ:GOOG) had its price target upped by Oppenheimer from $205.00 to $210.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the information services provider’s stock.

Several other analysts have also commented on the stock. Wolfe Research raised shares of Alphabet to a strong-buy rating in a research report on Tuesday, July 16th. Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Morgan Stanley reissued an overweight rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Rosenblatt Securities lowered shares of Alphabet from a buy rating to a neutral rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Finally, TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a buy rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of Buy and a consensus target price of $182.86.

Alphabet Stock Down 0.3 %

NASDAQ:GOOG opened at $168.68 on Wednesday. Alphabet has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a 50-day moving average of $180.57 and a 200 day moving average of $161.91. The firm has a market cap of $2.08 trillion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. As a group, research analysts anticipate that Alphabet will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,888 shares of company stock worth $25,699,259. 12.99% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Hedge funds have recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new stake in Alphabet during the fourth quarter worth $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet during the fourth quarter worth $28,000. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the second quarter worth $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter worth $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in Alphabet during the fourth quarter worth $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

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.