Loop Capital Increases Alphabet (NASDAQ:GOOGL) Price Target to $185.00

Alphabet (NASDAQ:GOOGL) had its price objective boosted by Loop Capital from $170.00 to $185.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the information services provider’s stock.

A number of other analysts also recently issued reports on GOOGL. Truist Financial lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Finally, Guggenheim boosted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Shares of Alphabet stock traded down $2.40 during trading hours on Wednesday, hitting $178.35. The company’s stock had a trading volume of 22,006,182 shares, compared to its average volume of 25,879,976. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet has a 12-month low of $127.90 and a 12-month high of $191.75. The business has a 50 day moving average price of $163.54 and a two-hundred day moving average price of $169.59. The company has a market cap of $2.18 trillion, a PE ratio of 23.65, a PEG ratio of 1.25 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company posted $1.55 EPS. Analysts expect that Alphabet will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 242,552 shares of company stock worth $40,287,253. 11.55% of the stock is owned by corporate insiders.

Institutional Trading of Alphabet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Alphabet during the 3rd quarter worth about $32,000. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter worth approximately $36,000. Denver PWM LLC acquired a new position in Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP acquired a new stake in Alphabet during the second quarter worth approximately $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.