Alphabet (NASDAQ:GOOGL) Price Target Increased to $220.00 by Analysts at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its target price boosted by Evercore ISI from $160.00 to $220.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

Several other research analysts have also issued reports on GOOGL. Sanford C. Bernstein upped their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a market perform rating in a research report on Friday. JMP Securities upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock a market outperform rating in a research report on Friday. Roth Mkm cut their target price on shares of Alphabet from $166.00 to $164.00 and set a buy rating for the company in a research report on Wednesday, January 31st. Jefferies Financial Group upped their target price on shares of Alphabet from $175.00 to $180.00 and gave the stock a buy rating in a research report on Friday, April 19th. Finally, Truist Financial upped their target price on shares of Alphabet from $158.00 to $170.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $187.82.

Alphabet Stock Up 10.2 %

GOOGL opened at $171.95 on Friday. The company has a fifty day moving average price of $147.85 and a 200-day moving average price of $141.39. The firm has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet has a one year low of $103.54 and a one year high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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 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 period in the previous year, the business earned $1.05 EPS. Equities research analysts expect that Alphabet will post 6.79 earnings per share for the current fiscal 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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC bought a new stake in Alphabet in the 1st quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $38,000. Meritage Group LP grew its position in Alphabet by 1,061.5% in 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 period. Finally, Macroview Investment Management LLC grew its position in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.