Alphabet (NASDAQ:GOOGL) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a research note issued to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $190.00 price objective on the information services provider’s stock.

GOOGL has been the subject of a number of other research reports. Evercore ISI cut their target price on shares of Alphabet from $225.00 to $200.00 and set an outperform rating for the company in a research report on Monday, September 16th. Loop Capital reissued a hold rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Wedbush reissued an outperform rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Finally, Piper Sandler cut their target price on Alphabet from $206.00 to $200.00 and set an overweight rating on the stock in a report on Tuesday, September 10th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $201.14.

Alphabet Stock Performance

Alphabet stock opened at $165.86 on Monday. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average price of $162.06 and a 200 day moving average price of $167.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. Research analysts forecast that Alphabet will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 in the last ninety days. Insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Investment Services LLC bought a new position in Alphabet during the fourth quarter worth about $214,000. Gold Investment Management Ltd. acquired a new stake in shares of Alphabet during the fourth quarter worth $104,000. Dorsey & Whitney Trust CO LLC lifted its position in Alphabet by 5.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 86,696 shares of the information services provider’s stock valued at $12,111,000 after acquiring an additional 4,477 shares in the last quarter. Manhattan West Asset Management LLC boosted its stake in Alphabet by 45.7% in the 4th quarter. Manhattan West Asset Management LLC now owns 69,743 shares of the information services provider’s stock worth $9,742,000 after purchasing an additional 21,870 shares during the period. Finally, Burkett Financial Services LLC bought a new position in Alphabet during the 4th quarter worth about $89,000. 40.03% of the stock is currently owned by institutional investors.

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.