Alphabet Inc. (NASDAQ:GOOG) Receives $200.56 Consensus Price Target from Brokerages

Alphabet Inc. (NASDAQ:GOOG) has been assigned an average recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $200.56.

Several equities research analysts recently weighed in on the stock. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company increased their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,795 shares of company stock worth $34,673,866. Company insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently added to or reduced their stakes in GOOG. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the third quarter worth $33,000. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the 2nd quarter valued at $37,000. Finally, HWG Holdings LP acquired a new stake in shares of Alphabet in the 2nd quarter worth $40,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.1 %

GOOG opened at $170.82 on Friday. Alphabet has a 52 week low of $129.40 and a 52 week high of $193.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50-day simple moving average of $169.86 and a two-hundred day simple moving average of $171.84. The company has a market capitalization of $2.09 trillion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 EPS. Analysts forecast that Alphabet will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

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.