TD Cowen Increases Alphabet (NASDAQ:GOOG) Price Target to $220.00

Alphabet (NASDAQ:GOOG) had its target price raised by TD Cowen from $200.00 to $220.00 in a research report released on Wednesday, MarketBeat reports. The brokerage currently has a buy rating on the information services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley restated an overweight rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a buy rating in a report on Tuesday, April 16th. Rosenblatt Securities downgraded Alphabet from a buy rating to a neutral rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an outperform rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of Moderate Buy and an average target price of $174.38.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $186.78 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet has a one year low of $118.68 and a one year high of $193.31. The firm has a market capitalization of $2.31 trillion, a P/E ratio of 28.65, a PEG ratio of 1.45 and a beta of 1.05. The company’s fifty day moving average is $179.19 and its two-hundred day moving average is $159.06.

Alphabet (NASDAQ:GOOG) 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 $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter last year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts forecast that Alphabet will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,488 shares of company stock worth $25,217,405. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOG. Twelve Points Wealth Management LLC grew its holdings in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the period. Mark Sheptoff Financial Planning LLC grew its stake in shares of Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after buying an additional 60 shares during the period. Shira Ridge Wealth Management grew its stake in shares of Alphabet by 0.4% during the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after buying an additional 60 shares during the period. Strait & Sound Wealth Management LLC raised its position in shares of Alphabet by 2.2% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock worth $466,000 after buying an additional 61 shares during the period. Finally, Woodward Diversified Capital LLC boosted its holdings in Alphabet by 0.7% in the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock valued at $1,311,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

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.