Alphabet (NASDAQ:GOOGL) Price Target Raised to $210.00 at Canaccord Genuity Group

Alphabet (NASDAQ:GOOGL) had its target price lifted by Canaccord Genuity Group from $190.00 to $210.00 in a research note published on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the information services provider’s stock.

A number of other research analysts also recently commented on the stock. Barclays increased their price target on shares of Alphabet from $173.00 to $200.00 and gave the company an overweight rating in a report on Friday. Needham & Company LLC increased their price target on shares of Alphabet from $160.00 to $210.00 and gave the company a buy rating in a report on Friday. Robert W. Baird increased their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an outperform rating in a report on Friday. Wedbush raised their price objective on shares of Alphabet from $175.00 to $205.00 and gave the stock an outperform rating in a research note on Friday. Finally, Jefferies Financial Group raised their price objective on shares of Alphabet from $175.00 to $180.00 and gave the stock a buy rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of Moderate Buy and a consensus target price of $187.82.

Alphabet Trading Up 10.2 %

Shares of Alphabet stock opened at $171.95 on Friday. The firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. The business has a 50-day moving average price of $147.85 and a 200-day moving average price of $141.39. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a twelve month low of $103.54 and a twelve month high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the firm earned $1.05 EPS. Equities research analysts anticipate that Alphabet will post 6.79 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock valued at $36,746,578 over the last ninety days. 0.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter valued at $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the fourth quarter valued at $38,000. Richardson Capital Management LLC raised its position in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares during the period. Finally, Meritage Group LP raised its position in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.