Alphabet (NASDAQ:GOOGL) Price Target Raised to $225.00

Alphabet (NASDAQ:GOOGLFree Report) had its price target boosted by Evercore ISI from $220.00 to $225.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

GOOGL has been the topic of several other research reports. TD Cowen boosted their price target on shares of Alphabet from $170.00 to $200.00 and gave the stock a buy rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price objective on Alphabet from $155.00 to $200.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Jefferies Financial Group upped their price objective on Alphabet from $180.00 to $200.00 and gave the company a buy rating in a research report on Friday, April 26th. Loop Capital lifted their target price on Alphabet from $155.00 to $170.00 and gave the stock a hold rating in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group increased their price target on Alphabet from $190.00 to $210.00 and gave the company a buy rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of Moderate Buy and a consensus price target of $193.26.

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Alphabet Price Performance

NASDAQ GOOGL opened at $175.16 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet has a 12 month low of $115.35 and a 12 month high of $180.41. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.31 and a beta of 1.01. The company’s 50 day moving average is $167.59 and its two-hundred day moving average is $150.62.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the business earned $1.17 earnings per share. As a group, research analysts anticipate that Alphabet will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,958 shares of company stock valued at $25,805,853. Corporate insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds have recently made changes to their positions in GOOGL. Keynote Financial Services LLC acquired a new position in Alphabet in the first quarter valued at about $2,154,000. IMS Capital Management lifted its holdings in shares of Alphabet by 22.7% in the 1st quarter. IMS Capital Management now owns 12,385 shares of the information services provider’s stock worth $1,869,000 after acquiring an additional 2,295 shares during the last quarter. Jackson Wealth Management LLC boosted its position in shares of Alphabet by 6.7% during the 1st quarter. Jackson Wealth Management LLC now owns 45,907 shares of the information services provider’s stock worth $6,929,000 after purchasing an additional 2,886 shares during the period. OMC Financial Services LTD acquired a new stake in Alphabet in the 1st quarter valued at approximately $4,227,000. Finally, Hamilton Wealth LLC raised its position in Alphabet by 4.4% in the first quarter. Hamilton Wealth LLC now owns 127,828 shares of the information services provider’s stock valued at $19,293,000 after purchasing an additional 5,423 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Alphabet

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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.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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