Alphabet (NASDAQ:GOOGL) Earns Buy Rating from Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Alphabet (NASDAQ:GOOGL) in a report released on Wednesday morning,Benzinga reports. Roth Mkm currently has a $220.00 target price on the information services provider’s stock.

Several other research analysts have also issued reports on GOOGL. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a research report on Wednesday. Piper Sandler lowered their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet Stock Performance

Shares of GOOGL stock opened at $163.89 on Wednesday. The firm has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.34 and a beta of 1.02. The stock has a fifty day moving average of $183.75 and a 200 day moving average of $176.47. Alphabet has a 52 week low of $146.74 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently added to or reduced their stakes in the stock. Pettinga Financial Advisors LLC boosted its position in shares of Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after acquiring an additional 201 shares during the last quarter. Impax Asset Management Group plc lifted its position in Alphabet by 6.8% during the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after purchasing an additional 46,677 shares during the last quarter. Foster & Motley Inc. grew its stake in shares of Alphabet by 11.3% in the 3rd quarter. Foster & Motley Inc. now owns 10,227 shares of the information services provider’s stock worth $1,696,000 after buying an additional 1,040 shares in the last quarter. Armor Investment Advisors LLC increased its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Armor Investment Advisors LLC now owns 9,739 shares of the information services provider’s stock worth $1,615,000 after buying an additional 233 shares during the last quarter. Finally, White Lighthouse Investment Management Inc. raised its position in shares of Alphabet by 0.8% during the 3rd quarter. White Lighthouse Investment Management Inc. now owns 9,480 shares of the information services provider’s stock valued at $1,572,000 after buying an additional 74 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.