Alphabet (NASDAQ:GOOGL) PT Lowered to $200.00 at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its price target lowered by Evercore ISI from $225.00 to $200.00 in a report issued on Monday, Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

Several other brokerages also recently commented on GOOGL. Loop Capital reiterated a hold rating and set a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. Citigroup lifted their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an outperform rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. Finally, Argus boosted their price objective on Alphabet from $200.00 to $215.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of Moderate Buy and an average target price of $201.08.

Alphabet Stock Up 0.3 %

GOOGL stock opened at $159.81 on Monday. The firm has a market cap of $1.97 trillion, a PE ratio of 24.51, a PEG ratio of 1.13 and a beta of 1.04. Alphabet has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a fifty day simple moving average of $165.62 and a 200 day simple moving average of $165.13. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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 analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Sell-side analysts anticipate that Alphabet will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,167 shares of company stock worth $29,762,606. Insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. MorganRosel Wealth Management LLC raised its position in shares of Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC increased its stake in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% during 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. Joseph P. Lucia & Associates LLC lifted its stake in Alphabet by 1.0% during the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after purchasing an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its holdings in shares of Alphabet by 1.0% in the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

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.