Alphabet (NASDAQ:GOOGL) Given New $400.00 Price Target at Dbs Bank

Alphabet (NASDAQ:GOOGLFree Report) had its target price raised by Dbs Bank from $360.00 to $400.00 in a research note issued to investors on Friday morning,MarketScreener reports. They currently have a buy rating on the information services provider’s stock.

GOOGL has been the subject of several other research reports. Wedbush lifted their price target on Alphabet from $360.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Rosenblatt Securities lifted their price target on Alphabet from $279.00 to $357.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Tigress Financial set a $415.00 price target on Alphabet and gave the stock a “strong-buy” rating in a research report on Thursday, February 19th. Evercore reiterated an “outperform” rating and issued a $400.00 price target (up from $325.00) on shares of Alphabet in a research report on Thursday, February 5th. Finally, Canaccord Genuity Group set a $415.00 price target on Alphabet in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $368.25.

Get Our Latest Analysis on GOOGL

Alphabet Trading Up 1.7%

Shares of GOOGL stock opened at $341.68 on Friday. Alphabet has a 12-month low of $146.10 and a 12-month high of $349.00. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $306.82 and its 200-day moving average price is $301.36. The stock has a market capitalization of $4.13 trillion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 2.07 and a beta of 1.12.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.25. The firm had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. Equities research analysts predict that Alphabet will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, March 9th. Alphabet’s payout ratio is 7.77%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $303.92, for a total transaction of $9,877,400.00. Following the completion of the transaction, the chief executive officer owned 2,818,524 shares in the company, valued at $856,605,814.08. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $19.00, for a total value of $35,060,852.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,069,794 shares of company stock worth $104,854,147 over the last three months. 11.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. State Street Corp raised its stake in shares of Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after acquiring an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Alphabet by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock valued at $45,625,595,000 after acquiring an additional 2,666,676 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,534,239,000. Finally, Bank of America Corp DE raised its stake in shares of Alphabet by 4.9% during the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock valued at $21,630,861,000 after acquiring an additional 3,218,852 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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