Roth Mkm Boosts Alphabet (NASDAQ:GOOGL) Price Target to $202.00

Alphabet (NASDAQ:GOOGL) had its target price boosted by Roth Mkm from $164.00 to $202.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an equal weight rating in a report on Friday. Wolfe Research increased their price target on shares of Alphabet from $180.00 to $200.00 and gave the company an outperform rating in a research note on Friday. JMP Securities increased their price target on shares of Alphabet from $160.00 to $200.00 and gave the company a market outperform rating in a research note on Friday. Citigroup increased their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a buy rating in a research note on Friday. Finally, Morgan Stanley increased their price target on shares of Alphabet from $165.00 to $195.00 and gave the company an overweight rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $189.44.

Alphabet Stock Down 3.4 %

GOOGL opened at $166.15 on Friday. Alphabet has a twelve month low of $103.71 and a twelve month high of $174.71. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $148.36 and a 200 day moving average price of $141.62. The company has a market cap 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 data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the firm earned $1.17 EPS. Sell-side analysts expect that Alphabet will post 6.82 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity

In other news, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now owns 9,291 shares in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,209 shares of company stock worth $36,711,144. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the company. RWQ Financial Management Services Inc. raised its stake in 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 acquiring an additional 4,664 shares in the last quarter. Robbins Farley raised its stake in 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 acquiring an additional 118 shares in the last quarter. Ballast Advisors LLC grew its position in 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 purchasing an additional 1,385 shares during the last quarter. CKW Financial Group grew its position in 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 purchasing an additional 760 shares during the last quarter. Finally, Quantum Financial Advisors LLC grew its position in Alphabet by 8.0% during 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 during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.