Alphabet (NASDAQ:GOOGL) Price Target Raised to $185.00

09 Nov 2024, 16:46 by Danessa Lincoln · The Markets Daily

Alphabet (NASDAQ:GOOGL – Free Report) had its target price raised by Loop Capital from $170.00 to $185.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a hold rating on the information services provider’s stock.

Other equities analysts have also issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Read Our Latest Stock Report on GOOGL

Alphabet Trading Down 1.3 %

NASDAQ:GOOGL traded down $2.40 on Wednesday, reaching $178.35. 22,006,182 shares of the stock traded hands, compared to its average volume of 25,879,976. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet has a 1-year low of $127.90 and a 1-year high of $191.75. The company’s 50 day moving average is $163.54 and its 200-day moving average is $169.59. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the business posted $1.55 EPS. Equities research analysts anticipate that Alphabet will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. 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 ninety days, insiders have sold 242,552 shares of company stock valued at $40,287,253. 11.55% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Several institutional investors have recently added to or reduced their stakes in the business. Makena Capital Management LLC boosted its holdings in shares of Alphabet by 0.3% during the 3rd quarter. Makena Capital Management LLC now owns 91,834 shares of the information services provider’s stock valued at $15,231,000 after acquiring an additional 314 shares during the last quarter. German American Bancorp Inc. grew its position in Alphabet by 6.9% in the 3rd quarter. German American Bancorp Inc. now owns 201,974 shares of the information services provider’s stock worth $33,497,000 after purchasing an additional 12,966 shares during the period. America First Investment Advisors LLC raised its stake in Alphabet by 0.6% during the 3rd quarter. America First Investment Advisors LLC now owns 140,442 shares of the information services provider’s stock valued at $23,292,000 after buying an additional 843 shares during the last quarter. Cypress Capital Group boosted its stake in shares of Alphabet by 3.9% in the 3rd quarter. Cypress Capital Group now owns 39,824 shares of the information services provider’s stock worth $6,605,000 after buying an additional 1,486 shares during the last quarter. Finally, Landscape Capital Management L.L.C. increased its position in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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