Alphabet’s (GOOGL) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a research note released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $190.00 price objective on the information services provider’s stock.

Several other analysts have also commented on GOOGL. Truist Financial restated a buy rating and set a $196.00 price target on shares of Alphabet in a research report on Monday, September 16th. Argus upped their price target on Alphabet from $200.00 to $215.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Roth Mkm reissued a buy rating and issued a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Evercore ISI reduced their target price on Alphabet from $225.00 to $200.00 and set an outperform rating for the company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of Moderate Buy and an average target price of $201.35.

Alphabet Stock Up 0.8 %

Alphabet stock opened at $162.73 on Monday. The business’s 50-day simple moving average is $163.41 and its two-hundred day simple moving average is $166.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $2.01 trillion, a PE ratio of 24.96, a PEG ratio of 1.21 and a beta of 1.04. Alphabet has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business posted $1.44 EPS. Equities analysts anticipate that Alphabet will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,867 shares of company stock worth $29,878,106. Company insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Large investors have recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Vanguard Group Inc. grew its holdings in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the period. Wulff Hansen & CO. raised its stake in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. Finally, PineStone Asset Management Inc. lifted its position in Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares during the period. 40.03% of the stock is 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.