Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at TD Cowen

Alphabet (NASDAQ:GOOGL) had its target price increased by TD Cowen from $170.00 to $200.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Sanford C. Bernstein increased their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a market perform rating in a research note on Friday. Robert W. Baird increased their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an outperform rating in a research note on Friday. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a positive rating in a research note on Wednesday, January 31st. 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 report on Friday. Finally, Barclays upped their target price on shares of Alphabet from $173.00 to $200.00 and gave the company an overweight rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $187.82.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $171.95 on Friday. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. Alphabet has a 52 week low of $103.54 and a 52 week high of $174.71. The company’s 50-day moving average price is $147.85 and its 200 day moving average price is $141.39. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same period in the prior year, the company earned $1.05 EPS. As a group, research analysts forecast that Alphabet will post 6.79 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. Investors of record on Monday, June 10th will be paid 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 payout ratio is 12.27%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred 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 directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock valued at $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

A number of hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Richardson Capital Management LLC increased its position in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. Finally, Meritage Group LP increased its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.