Alphabet (NASDAQ:GOOGL) Price Target Raised to $195.00 at KeyCorp

Alphabet (NASDAQ:GOOGL) had its price target raised by KeyCorp from $185.00 to $195.00 in a report published on Friday, MarketBeat Ratings reports. They currently have an overweight rating on the information services provider’s stock.

GOOGL has been the topic of a number of other research reports. Wolfe Research upped their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. DA Davidson decreased their target price on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Cantor Fitzgerald dropped their price target on Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets restated an “outperform” rating and set a $200.00 price objective (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Finally, Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $199.03.

Alphabet Trading Up 1.7 %

Shares of Alphabet stock opened at $161.96 on Friday. Alphabet has a twelve month low of $140.53 and a twelve month 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. The business has a 50-day moving average price of $162.18 and a 200-day moving average price of $175.43. The firm has a market cap of $1.97 trillion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter last year, the business posted $1.89 EPS. Equities research analysts anticipate that Alphabet will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.52%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock worth $25,361,647 over the last three months. 11.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently added to or reduced their stakes in the business. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter worth approximately $39,000. PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. Finally, Denver PWM LLC increased its holdings in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other 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.