TD Cowen Boosts Alphabet (NASDAQ:GOOG) Price Target to $220.00

Alphabet (NASDAQ:GOOG) had its price objective hoisted by TD Cowen from $200.00 to $220.00 in a report issued on Wednesday morning, Marketbeat reports. They currently have a buy rating on the information services provider’s stock.

GOOG has been the topic of a number of other research reports. Rosenblatt Securities lowered shares of Alphabet from a buy rating to a neutral rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the company an outperform rating in a research note on Monday, April 8th. Finally, Morgan Stanley restated an overweight rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $174.38.

Alphabet Stock Performance

Shares of GOOG opened at $186.78 on Wednesday. Alphabet has a 12 month low of $118.68 and a 12 month high of $193.31. The stock has a fifty day moving average price of $179.19 and a 200-day moving average price of $159.06. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.31 trillion, a PE ratio of 28.65, a P/E/G ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the company earned $1.17 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Equities research analysts predict that Alphabet will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,488 shares of company stock valued at $25,217,405. 12.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

Large investors have recently bought and sold shares of the business. Capital International Investors increased its holdings in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares in the last quarter. Capital World Investors raised its position in shares of Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares during the last quarter. Capital Research Global Investors lifted its stake in Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after buying an additional 684,968 shares in the last quarter. Finally, Norges Bank acquired a new stake in Alphabet in the 4th quarter worth about $4,101,040,000. Institutional investors and hedge funds own 27.26% 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.