Alphabet’s (GOOGL) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a report issued on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $190.00 price target on the information services provider’s stock.

A number of other research analysts have also commented on the stock. Loop Capital reaffirmed a hold rating and set a $170.00 price objective on shares of Alphabet in a research report on Wednesday, July 3rd. JMP Securities reiterated a market outperform rating and issued a $200.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Needham & Company LLC restated a buy rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, August 30th. Guggenheim upped their target price on Alphabet from $195.00 to $205.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock an outperform rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of Moderate Buy and an average price target of $201.08.

Alphabet Stock Down 0.5 %

Alphabet stock opened at $161.49 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a fifty day moving average price of $163.80 and a two-hundred day moving average price of $166.17. The firm has a market cap of $1.99 trillion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 1.21 and a beta of 1.04.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last three months, insiders sold 180,867 shares of company stock worth $29,878,106. 11.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nebula Research & Development LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $787,000. New Hampshire Trust raised its position in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. bought a new position in shares of Alphabet in the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after buying an additional 2,351 shares during the period. Finally, Johnson Financial Group Inc. grew its stake in Alphabet by 14.5% in the 4th quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock valued at $3,046,000 after buying an additional 2,763 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

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.