TD Cowen Increases Alphabet (NASDAQ:GOOGL) Price Target to $200.00

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

Other equities analysts have also recently issued reports about the company. Rosenblatt Securities lifted their price target on Alphabet from $172.00 to $182.00 and gave the stock a buy rating in a research note on Friday. Evercore ISI lifted their price target on Alphabet from $160.00 to $220.00 and gave the stock an outperform rating in a research note on Friday. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the company a positive rating in a research note on Wednesday, January 31st. UBS Group boosted their target price on Alphabet from $150.00 to $166.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley boosted their target price on Alphabet from $165.00 to $195.00 and gave the company an overweight rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $189.44.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $166.15 on Friday. The business has a 50 day moving average of $148.36 and a 200 day moving average of $141.62. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05. Alphabet has a 1-year low of $103.71 and a 1-year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the firm earned $1.17 EPS. On average, sell-side analysts predict that Alphabet will post 6.82 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold a total of 253,209 shares of company stock valued at $36,711,144 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Independent Family Office LLC increased its stake in shares of Alphabet by 25.6% in the 1st quarter. Independent Family Office LLC now owns 2,572 shares of the information services provider’s stock worth $388,000 after purchasing an additional 525 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Alphabet by 4.5% during the first quarter. Hazlett Burt & Watson Inc. now owns 8,539 shares of the information services provider’s stock valued at $1,285,000 after purchasing an additional 369 shares during the period. OFI Invest Asset Management increased its position in Alphabet by 12.0% in the first quarter. OFI Invest Asset Management now owns 1,186,114 shares of the information services provider’s stock worth $165,759,000 after buying an additional 126,756 shares in the last quarter. Renaissance Investment Group LLC raised its stake in shares of Alphabet by 2.6% in the first quarter. Renaissance Investment Group LLC now owns 98,523 shares of the information services provider’s stock worth $14,870,000 after buying an additional 2,533 shares during the period. Finally, Privium Fund Management UK Ltd lifted its position in shares of Alphabet by 59.4% during the 1st quarter. Privium Fund Management UK Ltd now owns 54,100 shares of the information services provider’s stock valued at $8,381,000 after buying an additional 20,158 shares in the last quarter. 40.03% of the stock is currently owned by 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.