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

Alphabet (NASDAQ:GOOGL) had its price objective raised by TD Cowen from $170.00 to $200.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Several other research analysts have also issued reports on the company. Sanford C. Bernstein increased their price target on Alphabet from $165.00 to $180.00 and gave the stock a market perform rating in a report on Friday. Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the stock a positive rating in a research note on Wednesday, January 31st. Mizuho increased their price objective on Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a research note on Friday. Roth Mkm lowered their price objective on Alphabet from $166.00 to $164.00 and set a buy rating for the company in a research note on Wednesday, January 31st. Finally, KeyCorp increased their price objective on Alphabet from $165.00 to $175.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $187.82.

Alphabet Stock Up 10.2 %

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

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.05 earnings per share. As a group, research analysts forecast that Alphabet will post 6.79 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was 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 directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. 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 ninety days. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter valued at $30,000. Tributary Capital Management LLC bought a new stake in Alphabet during the first quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the fourth quarter valued at $38,000. Meritage Group LP boosted its stake in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the period. Finally, Macroview Investment Management LLC boosted its stake in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after buying an additional 199 shares during the period. 40.03% of the stock is 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.