Alphabet (NASDAQ:GOOGL) Price Target Increased to $182.00 by Analysts at Rosenblatt Securities

Alphabet (NASDAQ:GOOGL) had its price objective upped by Rosenblatt Securities from $172.00 to $182.00 in a report released on Friday morning, Benzinga reports. Rosenblatt Securities currently has a buy rating on the information services provider’s stock.

Several other research firms have also commented on GOOGL. JMP Securities restated a market outperform rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Citigroup reiterated a buy rating and set a $168.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Canaccord Genuity Group upped their target price on shares of Alphabet from $180.00 to $190.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Barclays cut their price objective on shares of Alphabet from $180.00 to $173.00 and set an overweight rating on the stock in a report on Wednesday, January 31st. Finally, KeyCorp boosted their price target on Alphabet from $165.00 to $175.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Five investment 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 currently has a consensus rating of Moderate Buy and a consensus target price of $187.82.

Alphabet Price Performance

NASDAQ:GOOGL opened at $171.95 on Friday. 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 firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company’s 50-day moving average is $147.85 and its two-hundred day moving average is $141.39. Alphabet has a 12-month low of $103.54 and a 12-month high of $174.71.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity

In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The stock was 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 of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the business’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 completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock worth $36,746,578 in the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently made changes to their positions in GOOGL. M. Kraus & Co grew its stake in shares of Alphabet by 1.1% during the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after purchasing an additional 66 shares during the last quarter. Wynn Capital LLC boosted its stake in shares of Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after buying an additional 67 shares during the last quarter. Aire Advisors LLC lifted its stake in Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after purchasing an additional 68 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in shares of Alphabet by 2.1% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after buying an additional 68 shares during the period. Finally, Schmidt P J Investment Management Inc. grew its holdings in Alphabet by 1.0% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 7,350 shares of the information services provider’s stock valued at $1,109,000 after buying an additional 70 shares in the last quarter. Institutional investors 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.