Alphabet (GOOGL) – Research Analysts’ Weekly Ratings Updates

Alphabet (NASDAQ: GOOGL) has recently received a number of price target changes and ratings updates:

• 9/16/2024 – Alphabet had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $222.00 price target on the stock.
• 9/16/2024 – Alphabet had its price target lowered by analysts at Evercore ISI from $225.00 to $200.00. They now have an “outperform” rating on the stock.
• 9/16/2024 – Alphabet had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $200.00 price target on the stock.
• 9/16/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $196.00 price target on the stock.
• 9/10/2024 – Alphabet had its price target lowered by analysts at Piper Sandler from $206.00 to $200.00. They now have an “overweight” rating on the stock.
• 9/10/2024 – Alphabet is now covered by analysts at DA Davidson. They set a “neutral” rating and a $170.00 price target on the stock.
• 9/5/2024 – Alphabet had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $205.00 price target on the stock.
• 9/5/2024 – Alphabet is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $190.00 price target on the stock.
• 9/3/2024 – Alphabet had its price target lowered by analysts at Morgan Stanley from $205.00 to $190.00. They now have an “overweight” rating on the stock.
• 8/30/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $210.00 price target on the stock.
• 8/29/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $206.00 price target on the stock.
• 8/14/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $210.00 price target on the stock.
• 8/6/2024 – Alphabet had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $222.00 price target on the stock.
• 8/6/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $210.00 price target on the stock.
• 7/31/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $210.00 price target on the stock.
• 7/30/2024 – Alphabet had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $200.00 price target on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at JPMorgan Chase & Co. from $200.00 to $208.00. They now have an “overweight” rating on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at Piper Sandler from $200.00 to $206.00. They now have an “overweight” rating on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at Royal Bank of Canada from $200.00 to $204.00. They now have an “outperform” rating on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at Mizuho from $205.00 to $210.00. They now have an “outperform” rating on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at UBS Group AG from $200.00 to $204.00. They now have a “neutral” rating on the stock.
• 7/24/2024 – Alphabet had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $181.00 price target on the stock.
• 7/24/2024 – Alphabet had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $200.00 price target on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at Wells Fargo & Company from $187.00 to $190.00. They now have an “equal weight” rating on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at Citigroup Inc. from $190.00 to $212.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at Roth Mkm from $202.00 to $206.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at Truist Financial Co. from $190.00 to $196.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Alphabet had its price target raised by analysts at Guggenheim from $195.00 to $205.00. They now have a “buy” rating on the stock.
• 7/23/2024 – Alphabet had its price target raised by analysts at Morgan Stanley from $195.00 to $210.00. They now have an “overweight” rating on the stock.
• 7/23/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $210.00 price target on the stock.
• 7/22/2024 – Alphabet had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $205.00 price target on the stock.

Alphabet Trading Up 0.8 %

GOOGL opened at $159.32 on Wednesday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $1.97 trillion, a PE ratio of 24.44, a P/E/G ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average price is $166.25 and its 200 day moving average price is $165.17.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. The firm had revenue of $84.74 billion for 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 prior year, the firm posted $1.44 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet 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 value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,167 shares of company stock valued at $30,139,931. 11.55% of the stock is currently owned by insiders.

Institutional Trading of Alphabet

A number of institutional investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc boosted its stake 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 buying an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the 1st quarter worth approximately $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $36,000. Finally, Denver PWM LLC acquired a new stake in Alphabet during the second quarter valued at approximately $41,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.