Cantor Fitzgerald Reaffirms Neutral Rating for Alphabet (NASDAQ:GOOGL)

Cantor Fitzgerald reaffirmed their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $200.00 price target on the information services provider’s stock.

Other analysts have also issued research reports about the company. Piper Sandler lowered their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wedbush increased their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Bank of America restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Robert W. Baird reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Trading Up 0.7 %

GOOGL opened at $163.99 on Wednesday. Alphabet has a one year low of $147.22 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. The stock’s 50 day moving average price is $182.57 and its 200-day moving average price is $176.38.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts forecast that Alphabet will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the company. Compass Planning Associates Inc acquired a new stake in Alphabet during the fourth quarter worth $30,000. LMR Partners LLP acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp lifted its stake in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.