Analysts’ Weekly Ratings Updates for Alphabet (GOOGL)

Several brokerages have updated their recommendations and price targets on shares of Alphabet (NASDAQ: GOOGL) in the last few weeks:

• 7/10/2024 – Alphabet had its price target raised by analysts at TD Securities from $200.00 to $220.00.
• 7/9/2024 – Alphabet had its price target raised by analysts at Jefferies Financial Group Inc. from $215.00 to $220.00.
• 7/8/2024 – Alphabet had its price target raised by analysts at Wells Fargo & Company from $168.00 to $187.00. They now have an “equal weight” rating on the stock.
• 7/3/2024 – Alphabet had its “hold” rating reaffirmed by analysts at Loop Capital. They now have a $170.00 price target on the stock.
• 6/28/2024 – Alphabet had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $181.00 price target on the stock, down previously from $182.00.
• 6/28/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $210.00 price target on the stock.
• 6/26/2024 – Alphabet had its price target raised by analysts at Jefferies Financial Group Inc. from $200.00 to $215.00. They now have a “buy” rating on the stock.
• 6/11/2024 – Alphabet had its price target raised by analysts at Evercore ISI from $220.00 to $225.00. They now have an “outperform” rating on the stock.
• 6/11/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $200.00 price target on the stock.
• 5/24/2024 – Alphabet had its price target raised by analysts at Tigress Financial from $176.00 to $210.00. They now have a “strong-buy” rating on the stock.
• 5/15/2024 – Alphabet had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $195.00 price target on the stock.
• 5/15/2024 – Alphabet had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $215.00 price target on the stock.
• 5/15/2024 – Alphabet had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $200.00 price target on the stock.
• 5/15/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $196.00 price target on the stock.

Alphabet Price Performance

GOOGL traded down $0.06 during midday trading on Friday, reaching $185.51. 4,254,017 shares of the company’s stock were exchanged, compared to its average volume of 27,910,309. Alphabet Inc. has a one year low of $118.22 and a one year high of $191.75. The firm has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The business has a 50-day simple moving average of $177.33 and a two-hundred day simple moving average of $157.35. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its 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. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations 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 previous year, the company posted $1.17 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold 122,988 shares of company stock worth $21,015,755 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Public Sector Pension Investment Board grew its stake in Alphabet by 31.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,710,105 shares of the information services provider’s stock worth $354,644,000 after acquiring an additional 654,278 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Alphabet by 16,618.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 835,947 shares of the information services provider’s stock worth $109,392,000 after purchasing an additional 830,947 shares during the period. Trust Co. of Vermont lifted its position in shares of Alphabet by 0.6% in the 3rd quarter. Trust Co. of Vermont now owns 88,235 shares of the information services provider’s stock worth $11,546,000 after purchasing an additional 522 shares during the period. American Century Companies Inc. lifted its position in shares of Alphabet by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Alphabet by 0.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 211,743 shares of the information services provider’s stock worth $27,709,000 after purchasing an additional 1,153 shares during the period. Institutional investors own 40.03% of the company’s stock.

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.