Alphabet (NASDAQ:GOOGL) PT Raised to $170.00 at Loop Capital

Alphabet (NASDAQ:GOOGL) had its target price boosted by Loop Capital from $155.00 to $170.00 in a report issued on Wednesday, Benzinga reports. They currently have a hold rating on the information services provider’s stock.

Several other research analysts have also issued reports on GOOGL. Mizuho lifted 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, April 26th. Susquehanna raised their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a positive rating in a research note on Monday. Piper Sandler reaffirmed an overweight rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Truist Financial raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus raised their price objective on shares of Alphabet from $174.00 to $196.00 and gave the stock a buy rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $190.60.

Alphabet Trading Up 0.7 %

Alphabet stock opened at $163.86 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. Alphabet has a 1 year low of $103.71 and a 1 year high of $174.71. The firm’s 50 day moving average price is $149.22 and its two-hundred day moving average price is $141.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business posted $1.17 earnings per share. On average, research analysts predict that Alphabet will post 7.49 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,129 shares of company stock worth $40,382,765. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GOOGL. RWQ Financial Management Services Inc. increased its holdings in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Robbins Farley increased its holdings in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares during the period. Ballast Advisors LLC increased its holdings in shares of Alphabet by 9.6% during the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after purchasing an additional 1,385 shares during the period. CKW Financial Group increased its holdings in shares of Alphabet by 5.8% during the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after purchasing an additional 760 shares during the period. Finally, Quantum Financial Advisors LLC increased its holdings in shares of Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares during the period. 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.