Alphabet (NASDAQ:GOOGL) Rating Reiterated by Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a research report released on Friday, MarketBeat.com reports. The brokerage currently has a $181.00 price objective on the information services provider’s stock, down from their previous price objective of $182.00.

Several other brokerages have also issued reports on GOOGL. Oppenheimer boosted their price target on Alphabet from $185.00 to $205.00 and gave the company an outperform rating in a research note on Friday, April 26th. Barclays upped their price objective on Alphabet from $173.00 to $200.00 and gave the company an overweight rating in a research note on Friday, April 26th. Evercore ISI raised their target price on Alphabet from $220.00 to $225.00 and gave the stock an outperform rating in a research report on Tuesday, June 11th. Citigroup lifted their price objective on Alphabet from $168.00 to $190.00 and gave the company a buy rating in a report on Friday, April 26th. Finally, Roth Mkm upped their target price on shares of Alphabet from $164.00 to $202.00 and gave the stock a buy rating in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $193.66.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $182.15 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $172.85 and its 200-day moving average is $154.44. The firm has a market cap of $2.25 trillion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.37 and a beta of 1.01. Alphabet has a 12 month low of $115.35 and a 12 month high of $186.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 EPS. Equities analysts anticipate that Alphabet will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 143,026 shares of company stock worth $24,026,243 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently bought and sold shares of the company. RWQ Financial Management Services Inc. increased its position 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 buying an additional 4,664 shares during the period. Picton Mahoney Asset Management boosted its holdings in Alphabet by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 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 purchasing an additional 118 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of Alphabet during the fourth quarter worth approximately $787,000. Finally, CKW Financial Group raised its position in shares of Alphabet by 5.8% in the first quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock valued at $2,150,000 after buying an additional 760 shares in 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.