Alphabet (NASDAQ:GOOGL) PT Raised to $182.00 at Rosenblatt Securities

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

GOOGL has been the subject of several other research reports. Wedbush reissued an outperform rating and issued a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Canaccord Genuity Group raised their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a buy rating in a research report on Wednesday, April 17th. BMO Capital Markets reissued an outperform rating and issued a $185.00 price target (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. KeyCorp lifted their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. Finally, Jefferies Financial Group lifted their price objective 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. Five 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $189.44.

Alphabet Stock Down 3.4 %

Alphabet stock opened at $166.15 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. Alphabet has a fifty-two week low of $103.71 and a fifty-two week high of $174.71. The company has a market capitalization of $2.07 trillion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. The firm has a 50 day moving average price of $148.36 and a 200 day moving average price of $141.62.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the company posted $1.17 EPS. Research analysts expect that Alphabet will post 6.82 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 dividend on an annualized basis and a yield of 0.48%.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,209 shares of company stock worth $36,711,144. 0.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. M. Kraus & Co boosted its position in Alphabet by 1.1% during the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after acquiring an additional 66 shares during the last quarter. Wynn Capital LLC raised its stake in Alphabet by 3.9% during the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after purchasing an additional 67 shares during the period. Aire Advisors LLC raised its stake in Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after purchasing an additional 68 shares during the period. Henrickson Nauta Wealth Advisors Inc. raised its stake in Alphabet by 2.1% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after purchasing an additional 68 shares during the period. Finally, Fiduciary Planning LLC raised its stake in Alphabet by 0.7% during the first quarter. Fiduciary Planning LLC now owns 9,219 shares of the information services provider’s stock worth $1,391,000 after purchasing an additional 68 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.