Roth Mkm Increases Alphabet (NASDAQ:GOOGL) Price Target to $206.00

Alphabet (NASDAQ:GOOGL) had its price objective raised by Roth Mkm from $202.00 to $206.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other equities analysts have also recently commented on the company. Guggenheim increased their target price on Alphabet from $195.00 to $205.00 and gave the company a buy rating in a report on Wednesday. TD Securities increased their price target on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Truist Financial increased their price target on Alphabet from $190.00 to $196.00 and gave the company a buy rating in a report on Wednesday. Rosenblatt Securities reaffirmed a neutral rating and issued a $181.00 price target on shares of Alphabet in a report on Wednesday. Finally, Mizuho increased their price target on Alphabet from $205.00 to $210.00 and gave the company an outperform rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $203.74.

Alphabet Price Performance

Shares of Alphabet stock opened at $167.00 on Wednesday. The business has a 50 day simple moving average of $179.04 and a two-hundred day simple moving average of $160.48. Alphabet has a 12 month low of $120.21 and a 12 month high of $191.75. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.61, a PEG ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. As a group, analysts predict that Alphabet will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,388 shares of company stock worth $21,497,609. Company insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MorganRosel Wealth Management LLC boosted its holdings in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC boosted its stake in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Joseph P. Lucia & Associates LLC boosted its stake in Alphabet by 1.0% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after purchasing an additional 64 shares during the period. Finally, Sunflower Bank N.A. boosted its stake in Alphabet by 1.0% in the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after purchasing an additional 65 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.