Alphabet (NASDAQ:GOOG) PT Lowered to $187.00

Alphabet (NASDAQ:GOOG) had its price target trimmed by UBS Group from $204.00 to $187.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a neutral rating on the information services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Wolfe Research upgraded shares of Alphabet to a strong-buy rating in a report on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a hold rating in a research report on Thursday, September 5th. Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They set a buy rating and a $215.00 target price on the stock. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Finally, DA Davidson upgraded Alphabet to a hold rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $184.11.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $163.18 on Monday. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business’s 50 day simple moving average is $163.07 and its 200-day simple moving average is $169.07. Alphabet has a 12 month low of $121.46 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the business earned $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Alphabet will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 216,092 shares of company stock worth $35,644,136. Corporate insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $34,000. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter worth $40,000. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter valued at $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

About Alphabet

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.