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

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

Other equities research analysts have also issued research reports about the stock. Piper Sandler reissued an overweight rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a research report on Friday. Evercore ISI increased their price objective on shares of Alphabet from $160.00 to $220.00 and gave the stock an outperform rating in a research report on Friday. Citigroup increased their price objective on shares of Alphabet from $168.00 to $190.00 and gave the stock a buy rating in a research report on Friday. BMO Capital Markets reissued an outperform rating and issued a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Finally, Wedbush raised their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an outperform rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of Moderate Buy and an average price target of $189.44.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $166.15 on Friday. 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 market cap of $2.07 trillion, a P/E ratio of 25.48, a P/E/G ratio of 1.57 and a beta of 1.05. Alphabet has a fifty-two week low of $103.71 and a fifty-two week high of $174.71. The firm’s 50 day moving average is $148.36 and its two-hundred day moving average is $141.62.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the firm posted $1.17 earnings per share. Analysts expect that Alphabet will post 6.82 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. 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 insiders.

Institutional Trading of Alphabet

Several hedge funds have recently bought and sold shares of GOOGL. RWQ Financial Management Services Inc. increased 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 valued at $8,591,000 after buying an additional 4,664 shares during the period. Robbins Farley increased 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 valued at $2,096,000 after buying an additional 118 shares during the period. Ballast Advisors LLC increased its stake in Alphabet by 9.6% during the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after buying an additional 1,385 shares during the period. CKW Financial Group increased its stake in Alphabet by 5.8% during the 1st 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 during the period. Finally, Quantum Financial Advisors LLC increased its stake 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 valued at $998,000 after buying an additional 564 shares during the period. 40.03% of the stock is currently owned by 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.