Roth Capital Issues Positive Forecast for Alphabet (NASDAQ:GOOGL) Stock Price

Alphabet (NASDAQ:GOOGL) had its price objective raised by Roth Capital from $210.00 to $265.00 in a report published on Thursday morning, MarketBeat.com reports. Roth Capital currently has a buy rating on the information services provider’s stock.

Other equities analysts also recently issued reports about the company. BMO Capital Markets set a $294.00 target price on Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Wedbush increased their price objective on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Westpark Capital raised their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Truist Financial upped their target price on Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Stifel Nicolaus increased their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $250.57.

Alphabet Stock Performance

Shares of Alphabet stock opened at $251.46 on Thursday. The firm has a market capitalization of $3.04 trillion, a P/E ratio of 26.78, a PEG ratio of 1.69 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $230.51 and a 200 day moving average price of $190.95. Alphabet has a 52 week low of $140.53 and a 52 week high of $256.96.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts expect that Alphabet will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,872 shares of company stock valued at $46,980,865. 11.64% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Institutional investors have recently bought and sold shares of the business. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet in the second quarter valued at about $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter worth about $28,000. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $28,000. Finally, NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.