Alphabet (NASDAQ:GOOGL) Price Target Increased to $205.00 by Analysts at Oppenheimer

Alphabet (NASDAQ:GOOGL) had its target price increased by Oppenheimer from $185.00 to $205.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

Several other equities research analysts have also commented on the stock. JMP Securities boosted their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock a market outperform rating in a report on Friday. Evercore ISI boosted their price target on shares of Alphabet from $160.00 to $220.00 and gave the company an outperform rating in a research report on Friday. Canaccord Genuity Group upped their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a buy rating in a research report on Friday. KeyCorp upped their target price on shares of Alphabet from $165.00 to $175.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Finally, Barclays boosted their price target on shares of Alphabet from $173.00 to $200.00 and gave the stock an overweight rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have given 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 a consensus rating of Moderate Buy and an average price target of $187.82.

Alphabet Stock Performance

Shares of GOOGL stock opened at $171.95 on Friday. Alphabet has a 12-month low of $103.54 and a 12-month high of $174.71. The company has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $147.85 and its two-hundred day moving average is $141.39.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter in the previous year, the firm earned $1.05 EPS. Analysts expect that Alphabet will post 6.79 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently modified their holdings of the stock. Chico Wealth RIA purchased a new stake in Alphabet in the 3rd quarter worth about $330,000. Summit Global Investments raised its stake in shares of Alphabet by 67.7% during the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after purchasing an additional 97,466 shares in the last quarter. Prentice Wealth Management LLC increased its holdings in shares of Alphabet by 18.1% during the 3rd quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock valued at $934,000 after acquiring an additional 1,096 shares during the last quarter. Sunflower Bank N.A. increased its holdings in shares of Alphabet by 6.3% during the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock valued at $779,000 after acquiring an additional 353 shares during the last quarter. Finally, David J Yvars Group increased its holdings in shares of Alphabet by 10.3% during the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock valued at $546,000 after acquiring an additional 390 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

About Alphabet

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.