Alphabet (NASDAQ:GOOGL) PT Raised to $200.00 at JMP Securities

Alphabet (NASDAQ:GOOGL) had its target price lifted by JMP Securities from $160.00 to $200.00 in a report released on Friday morning, Benzinga reports. They currently have a market outperform rating on the information services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Mizuho boosted their target price on Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a research report on Friday. Jefferies Financial Group boosted their target price on Alphabet from $175.00 to $180.00 and gave the stock a buy rating in a research report on Friday, April 19th. Citigroup boosted their target price on Alphabet from $168.00 to $190.00 and gave the stock a buy rating in a research report on Friday. Needham & Company LLC boosted their target price on Alphabet from $160.00 to $210.00 and gave the stock a buy rating in a research report on Friday. Finally, Truist Financial boosted their target price on Alphabet from $158.00 to $170.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of Moderate Buy and a consensus target price of $187.82.

Alphabet Trading Up 10.2 %

Shares of GOOGL opened at $171.95 on Friday. The stock has a fifty day moving average price of $147.85 and a two-hundred day moving average price of $141.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet has a 52-week low of $103.54 and a 52-week high of $174.71. The company 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.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the previous year, the company posted $1.05 EPS. Analysts predict that Alphabet will post 6.79 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock worth $36,746,578 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC acquired a new stake in Alphabet during the first quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $38,000. Meritage Group LP grew its position in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its position in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares in the last quarter. Institutional investors and hedge funds own 40.03% 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.