Alphabet (NASDAQ:GOOG) Price Target Raised to $210.00

Alphabet (NASDAQ:GOOG) had its price objective hoisted by Oppenheimer from $205.00 to $210.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

GOOG has been the subject of several other research reports. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Rosenblatt Securities cut shares of Alphabet from a buy rating to a neutral rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Wolfe Research upgraded shares of Alphabet to a strong-buy rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley restated an overweight rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $182.86.

Alphabet Price Performance

GOOG opened at $168.68 on Wednesday. Alphabet has a 1 year low of $121.46 and a 1 year high of $193.31. The stock has a 50-day moving average price of $180.57 and a 200-day moving average price of $161.78. The firm has a market cap of $2.08 trillion, a PE ratio of 25.87, a P/E/G ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts predict that Alphabet will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders sold a total of 144,888 shares of company stock valued at $25,699,259 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Large investors have recently made changes to their positions in the business. Partnership Wealth Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet in the 4th quarter worth $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at about $34,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the fourth quarter worth about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

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.