Alphabet Inc. (NASDAQ:GOOG) Receives $200.56 Average Price Target from Analysts

Shares of Alphabet Inc. (NASDAQ:GOOG) have earned an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $200.56.

A number of brokerages recently commented on GOOG. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last ninety days. Insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Weiss Asset Management LP purchased a new stake in shares of Alphabet in the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the 3rd quarter valued at about $33,000. Abich Financial Wealth Management LLC grew its stake in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $37,000. Finally, HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at approximately $40,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.1 %

NASDAQ:GOOG opened at $170.82 on Friday. The company has a market capitalization of $2.09 trillion, a P/E ratio of 22.66, a PEG ratio of 1.18 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet has a 12 month low of $129.40 and a 12 month high of $193.31. The firm has a fifty day simple moving average of $169.86 and a 200-day simple moving average of $171.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.55 EPS. On average, equities research analysts anticipate that Alphabet will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.