Alphabet (NASDAQ:GOOGL) PT Raised to $182.00 at Rosenblatt Securities

Alphabet (NASDAQ:GOOGL) had its price objective boosted by Rosenblatt Securities from $172.00 to $182.00 in a research note issued to investors on Friday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the information services provider’s stock.

GOOGL has been the topic of a number of other reports. Wells Fargo & Company lowered their price objective on shares of Alphabet from $144.00 to $141.00 and set an equal weight rating on the stock in a research report on Wednesday, April 3rd. Redburn Atlantic lifted their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Wolfe Research lifted their target price on shares of Alphabet from $170.00 to $180.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Needham & Company LLC reiterated a buy rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Finally, BMO Capital Markets reiterated an outperform rating and issued a $185.00 target price (up from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Five investment 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. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $189.44.

Alphabet Stock Performance

Alphabet stock opened at $166.15 on Friday. The firm’s 50 day simple moving average is $148.36 and its 200-day simple moving average is $141.62. The company has a market cap of $2.07 trillion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. Alphabet has a fifty-two week low of $103.71 and a fifty-two week high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. As a group, equities research analysts predict that Alphabet will post 6.82 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Buying and Selling at Alphabet

In other Alphabet 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 value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet 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 value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders have sold 253,209 shares of company stock valued at $36,711,144 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in GOOGL. Chico Wealth RIA bought a new stake in shares of Alphabet in the 3rd quarter worth about $330,000. Summit Global Investments grew its holdings in shares of Alphabet by 67.7% in the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after purchasing an additional 97,466 shares during the last quarter. Prentice Wealth Management LLC grew its holdings in shares of Alphabet by 18.1% in the 3rd quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after purchasing an additional 1,096 shares during the last quarter. Sunflower Bank N.A. grew its holdings in shares of Alphabet by 6.3% in the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after purchasing an additional 353 shares during the last quarter. Finally, David J Yvars Group grew its holdings in shares of Alphabet by 10.3% in the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock worth $546,000 after purchasing an additional 390 shares during the last quarter. Institutional investors 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.