Alphabet (NASDAQ:GOOGL) Price Target Raised to $215.00

Alphabet (NASDAQ:GOOGL) had its price target boosted by KeyCorp from $200.00 to $215.00 in a research report released on Wednesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the information services provider’s stock.

Other analysts also recently issued reports about the company. Evercore ISI upped their target price on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group raised their target price on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, TD Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Price Performance

NASDAQ:GOOGL opened at $171.29 on Wednesday. The company has a market cap of $2.11 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.29 and a beta of 1.04. The firm’s fifty day moving average price is $162.43 and its two-hundred day moving average price is $168.91. Alphabet has a one year low of $126.93 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 earnings per share. Equities analysts expect that Alphabet will post 7.85 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 230,244 shares of company stock worth $37,776,954. Insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Costello Asset Management INC boosted its holdings in shares of Alphabet by 0.9% in the third quarter. Costello Asset Management INC now owns 30,638 shares of the information services provider’s stock worth $5,081,000 after acquiring an additional 267 shares during the period. Rocky Mountain Advisers LLC boosted its stake in Alphabet by 33.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 3,210 shares of the information services provider’s stock worth $532,000 after purchasing an additional 800 shares during the period. 17 Capital Partners LLC boosted its stake in Alphabet by 4.2% in the 3rd quarter. 17 Capital Partners LLC now owns 19,985 shares of the information services provider’s stock worth $3,315,000 after purchasing an additional 800 shares during the period. Mach 1 Financial Group LLC lifted its holdings in shares of Alphabet by 12.7% in the third quarter. Mach 1 Financial Group LLC now owns 5,242 shares of the information services provider’s stock worth $869,000 after buying an additional 591 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in shares of Alphabet by 1.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 414,394 shares of the information services provider’s stock worth $68,728,000 after buying an additional 4,035 shares in the last quarter. Institutional investors own 40.03% 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.