Analysts Set Alphabet Inc. (NASDAQ:GOOG) Price Target at $165.67

Alphabet Inc. (NASDAQ:GOOG) has earned a consensus recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $165.67.

GOOG has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. In the last three months, insiders sold 146,284 shares of company stock valued at $24,534,393. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several institutional investors have recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the fourth quarter worth about $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Alphabet in the fourth quarter worth about $34,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $186.86 on Tuesday. Alphabet has a 1 year low of $115.83 and a 1 year high of $187.50. The firm’s fifty day simple moving average is $173.26 and its 200 day simple moving average is $154.97. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.31 trillion, a PE ratio of 28.66, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the business posted $1.17 EPS. Alphabet’s revenue was up 15.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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.