Alphabet (NASDAQ:GOOGL) Price Target Raised to $210.00

02 Nov 2024, 09:40 by Amy Steele · The Cerbat Gem

Alphabet (NASDAQ:GOOGL – Free Report) had its target price hoisted by Bank of America from $206.00 to $210.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Other analysts have also issued research reports about the company. Wolfe Research initiated coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Truist Financial increased their price target on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Loop Capital reissued a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research report on Wednesday, July 3rd. Mizuho lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price objective on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.51.

View Our Latest Report on GOOGL

Alphabet Stock Performance

NASDAQ GOOGL opened at $171.29 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The company has a market cap of $2.11 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.29 and a beta of 1.04. The stock has a 50-day moving average of $162.43 and a two-hundred day moving average of $168.91. Alphabet has a 1-year low of $126.93 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, analysts anticipate that Alphabet will post 7.85 EPS for the current year.

Alphabet Announces Dividend

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 yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,244 shares of company stock valued at $37,776,954. 11.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently made changes to their positions in the stock. Costello Asset Management INC increased its holdings in shares of Alphabet by 0.9% during the 3rd quarter. Costello Asset Management INC now owns 30,638 shares of the information services provider’s stock worth $5,081,000 after buying an additional 267 shares during the last quarter. Rocky Mountain Advisers LLC increased its stake in Alphabet by 33.2% during the third quarter. Rocky Mountain Advisers LLC now owns 3,210 shares of the information services provider’s stock worth $532,000 after acquiring an additional 800 shares during the last quarter. 17 Capital Partners LLC increased its stake in Alphabet by 4.2% during the third quarter. 17 Capital Partners LLC now owns 19,985 shares of the information services provider’s stock worth $3,315,000 after acquiring an additional 800 shares during the last quarter. Mach 1 Financial Group LLC raised its holdings in shares of Alphabet by 12.7% in the 3rd quarter. Mach 1 Financial Group LLC now owns 5,242 shares of the information services provider’s stock worth $869,000 after purchasing an additional 591 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its stake in shares of Alphabet by 1.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 414,394 shares of the information services provider’s stock valued at $68,728,000 after purchasing an additional 4,035 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

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