Alphabet (NASDAQ:GOOGL) Price Target Increased to $210.00 by Analysts at Needham & Company LLC

Alphabet (NASDAQ:GOOGL) had its target price upped by Needham & Company LLC from $160.00 to $210.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Other research analysts also recently issued research reports about the stock. Mizuho upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a research report on Friday. BMO Capital Markets reiterated an outperform rating and set a $185.00 price target (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Royal Bank of Canada reiterated an outperform rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Truist Financial boosted their price objective on Alphabet from $158.00 to $170.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a positive rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of Moderate Buy and an average target price of $187.82.

Alphabet Stock Up 10.2 %

Shares of NASDAQ:GOOGL opened at $171.95 on Friday. Alphabet has a 52 week low of $103.54 and a 52 week high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company’s fifty day moving average is $147.85 and its 200-day moving average is $141.39. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 in the last quarter. 0.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in GOOGL. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $15,441,917,000. FMR LLC raised its stake in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the period. Vanguard Group Inc. raised its stake in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its position in Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC increased its position in Alphabet by 4,894.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 shares during the period. 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.