Alphabet (NASDAQ:GOOGL) Price Target Raised to $190.00 at Mizuho

Alphabet (NASDAQ:GOOGL) had its price objective upped by Mizuho from $170.00 to $190.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Several other research firms have also recently weighed in on GOOGL. Truist Financial upped their price objective on shares of Alphabet from $158.00 to $170.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Wells Fargo & Company cut their price objective on shares of Alphabet from $144.00 to $141.00 and set an equal weight rating for the company in a research report on Wednesday, April 3rd. KeyCorp upped their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. Jefferies Financial Group upped their price objective on shares of Alphabet from $175.00 to $180.00 and gave the stock a buy rating in a research report on Friday, April 19th. Finally, Wedbush reaffirmed an outperform rating and set a $175.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $189.44.

Alphabet Trading Down 3.4 %

GOOGL stock opened at $166.15 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The company’s 50-day simple moving average is $148.36 and its 200 day simple moving average is $141.62. Alphabet has a 52 week low of $103.71 and a 52 week high of $174.71. The company has a market capitalization of $2.07 trillion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the company posted $1.17 earnings per share. As a group, sell-side analysts anticipate that Alphabet will post 6.82 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,209 shares of company stock valued at $36,711,144. 0.88% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Large investors have recently modified their holdings of the stock. RWQ Financial Management Services Inc. grew its position in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares during the period. Robbins Farley grew its position in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after buying an additional 118 shares during the period. Ballast Advisors LLC grew its position in shares of Alphabet by 9.6% during the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after buying an additional 1,385 shares during the period. CKW Financial Group grew its position in shares of Alphabet by 5.8% during the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after buying an additional 760 shares during the period. Finally, Quantum Financial Advisors LLC lifted its holdings in shares of Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. Institutional investors and hedge funds own 40.03% 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.