Tigress Financial Boosts Alphabet (NASDAQ:GOOGL) Price Target to $210.00

Alphabet (NASDAQ:GOOGL) had its price objective raised by Tigress Financial from $176.00 to $210.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a strong-buy rating on the information services provider’s stock.

A number of other analysts also recently commented on the company. TD Cowen raised their price objective on Alphabet from $170.00 to $200.00 and gave the stock a buy rating in a research report on Friday, April 26th. BMO Capital Markets reiterated an outperform rating and issued a $215.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Canaccord Genuity Group raised their price objective on Alphabet from $190.00 to $210.00 and gave the stock a buy rating in a research report on Friday, April 26th. Wolfe Research raised their target price on Alphabet from $180.00 to $200.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Finally, Roth Mkm raised their target price on Alphabet from $164.00 to $202.00 and gave the stock a buy rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of Moderate Buy and a consensus price target of $191.57.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $174.99 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 1.31 and a beta of 1.02. The business’s 50-day simple moving average is $160.81 and its 200-day simple moving average is $146.91. Alphabet has a 52 week low of $115.35 and a 52 week high of $178.77.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, equities research analysts expect that Alphabet will post 7.61 earnings per share 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.46%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,935 shares of company stock worth $31,178,987. Corporate insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $30,000. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $38,000. Meritage Group LP increased 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 during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during 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.