Needham & Company LLC Boosts Alphabet (NASDAQ:GOOGL) Price Target to $210.00

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

A number of other analysts have also commented on GOOGL. UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Rosenblatt Securities boosted their price target on shares of Alphabet from $172.00 to $182.00 and gave the company a buy rating in a research note on Friday. Citigroup reiterated a buy rating and issued a $168.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Jefferies Financial Group upped their target price 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. Finally, Redburn Atlantic upped their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $187.82.

Alphabet Stock Up 10.2 %

Alphabet stock opened at $171.95 on Friday. 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 12-month low of $103.54 and a 12-month high of $174.71. The firm’s fifty day moving average is $147.85 and its 200 day moving average is $141.42. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a PEG ratio of 1.58 and a beta of 1.05.

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. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, sell-side analysts predict that Alphabet will post 6.82 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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 is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’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 sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of the firm’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 owns 15,104 shares in the company, valued at approximately $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 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

A number of hedge funds have recently bought and sold shares of GOOGL. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $38,000. Richardson Capital Management LLC lifted its holdings in shares of Alphabet by 87.5% in the 1st 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 last quarter. Finally, Meritage Group LP lifted its holdings in shares of Alphabet by 1,061.5% in the 3rd 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 last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

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.