Alphabet (NASDAQ:GOOGL) Price Target Raised to $205.00 at Oppenheimer

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

Several other research firms have also recently issued reports on GOOGL. Mizuho upped their price target on Alphabet from $170.00 to $190.00 and gave the company a buy rating in a report on Friday. Jefferies Financial Group boosted their target price on Alphabet from $180.00 to $200.00 and gave the stock a buy rating in a research report on Friday. Roth Mkm increased their price target on Alphabet from $164.00 to $202.00 and gave the company a buy rating in a research report on Friday. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a positive rating in a report on Wednesday, January 31st. Finally, Raymond James raised their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an outperform rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $189.44.

Alphabet Price 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 business’s 50-day moving average price is $148.36 and its 200 day moving average price is $141.62. Alphabet has a 52-week low of $103.71 and a 52-week high of $174.71. The firm has a market cap of $2.07 trillion, a P/E ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts predict that Alphabet will post 6.82 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Buying and Selling

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last three months, insiders sold 253,209 shares of company stock valued at $36,711,144. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $15,441,917,000. FMR LLC increased its stake in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the period. Vanguard Group Inc. raised its position in Alphabet by 1.3% in 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 purchasing an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. 40.03% of the stock is 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.