Alphabet (NASDAQ:GOOGL) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Alphabet (NASDAQ:GOOGL) in a research report report published on Friday, Benzinga reports. They currently have a $210.00 target price on the information services provider’s stock.

GOOGL has been the subject of a number of other reports. Truist Financial raised their price objective on Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a research report on Friday, April 26th. Piper Sandler reiterated an overweight rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Wedbush lifted their price target on Alphabet from $175.00 to $205.00 and gave the company an outperform rating in a report on Friday, April 26th. Barclays lifted their price target on Alphabet from $173.00 to $200.00 and gave the company an overweight rating in a report on Friday, April 26th. Finally, Royal Bank of Canada lifted their price target on Alphabet from $155.00 to $200.00 and gave the company an outperform rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of Moderate Buy and an average target price of $193.66.

Alphabet Price Performance

NASDAQ:GOOGL opened at $182.99 on Friday. The business’s 50-day moving average price is $172.85 and its 200 day moving average price is $154.44. The firm has a market cap of $2.26 trillion, a P/E ratio of 28.07, a PEG ratio of 1.37 and a beta of 1.05. Alphabet has a 52-week low of $115.35 and a 52-week high of $186.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the business posted $1.17 EPS. As a group, sell-side analysts predict that Alphabet will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold 142,344 shares of company stock valued at $23,920,676 over the last 90 days. 11.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently modified their holdings of the business. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the fourth quarter worth about $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the first quarter worth about $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the fourth quarter worth about $38,000. Meritage Group LP grew its holdings in shares of 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 in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of 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 in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.