Alphabet (NASDAQ:GOOGL) PT Raised to $220.00 at Tigress Financial

Alphabet (NASDAQ:GOOGL) had its price target lifted by Tigress Financial from $210.00 to $220.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a strong-buy rating on the information services provider’s stock.

GOOGL has been the topic of several other reports. Mizuho raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an outperform rating in a research report on Wednesday, July 24th. Morgan Stanley decreased their target price on Alphabet from $205.00 to $190.00 and set an overweight rating on the stock in a research report on Tuesday, September 3rd. Piper Sandler cut their price target on Alphabet from $206.00 to $200.00 and set an overweight rating for the company in a report on Tuesday, September 10th. Guggenheim boosted their price objective on Alphabet from $195.00 to $205.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $201.35.

Alphabet Stock Performance

Shares of GOOGL opened at $163.95 on Thursday. The firm has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company’s fifty day moving average is $162.83 and its 200-day moving average is $166.68. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet has a 12 month low of $120.21 and a 12 month high of $191.75.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. The disclosure for this sale can be found here. Insiders have sold 177,605 shares of company stock valued at $29,277,931 in the last ninety days. 11.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet during the second quarter valued at about $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the fourth quarter worth about $30,000. Finally, Denver PWM LLC bought a new stake in Alphabet in the second quarter worth about $41,000. 40.03% of the stock is owned by hedge funds and other 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.