Alphabet (NASDAQ:GOOGL) Now Covered by Analysts at DA Davidson

DA Davidson started coverage on shares of Alphabet (NASDAQ:GOOGL) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $170.00 target price on the information services provider’s stock.

GOOGL has been the subject of several other reports. Roth Mkm reaffirmed a buy rating and issued a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. Tigress Financial raised their price objective on shares of Alphabet from $176.00 to $210.00 and gave the stock a strong-buy rating in a report on Friday, May 24th. Royal Bank of Canada upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the company an outperform rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Finally, Truist Financial upped their price objective on Alphabet from $190.00 to $196.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $201.76.

Alphabet Stock Performance

NASDAQ GOOGL opened at $148.66 on Tuesday. The company’s fifty day moving average is $169.44 and its two-hundred day moving average is $164.52. The firm has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick 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 issued 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 firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the company posted $1.44 earnings per share. Equities research analysts forecast that Alphabet will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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 is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’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 transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold 179,367 shares of company stock worth $30,016,931 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of Alphabet in the fourth quarter valued at $1,328,000. Leuthold Group LLC lifted its position in Alphabet by 30.4% during the fourth quarter. Leuthold Group LLC now owns 97,342 shares of the information services provider’s stock worth $13,598,000 after acquiring an additional 22,719 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of Alphabet during the fourth quarter worth approximately $974,000. Maryland State Retirement & Pension System lifted its holdings in Alphabet by 1.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 462,064 shares of the information services provider’s stock worth $64,546,000 after purchasing an additional 4,624 shares during the last quarter. Finally, Fielder Capital Group LLC bought a new stake in Alphabet in the 4th quarter valued at $854,000. Institutional investors and hedge funds 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.