Alphabet Inc. (NASDAQ:GOOGL) Receives $203.74 Average Target Price from Analysts

Shares of Alphabet Inc. (NASDAQ:GOOGL) have earned a consensus rating of “Moderate Buy” from the thirty-five brokerages that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, twenty-eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $203.17.

Several research analysts have weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Guggenheim raised their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wolfe Research initiated coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Bank of America increased their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Evercore ISI lifted 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.

Alphabet Trading Down 0.6 %

Shares of NASDAQ:GOOGL opened at $156.45 on Monday. The company has a 50-day simple moving average of $172.04 and a 200 day simple moving average of $164.11. The company has a market capitalization of $1.93 trillion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the firm posted $1.44 EPS. Sell-side analysts forecast that Alphabet will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold 134,065 shares of company stock valued at $22,841,690 in the last ninety days. 11.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter valued at $36,000. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the 4th quarter worth $30,000. Finally, Denver PWM LLC bought a new stake in shares of Alphabet in the 2nd quarter worth $41,000. Institutional investors and hedge funds 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.