Alphabet (NASDAQ:GOOGL) Price Target Raised to $215.00 at KeyCorp

Alphabet (NASDAQ:GOOGL) had its target price hoisted by KeyCorp from $200.00 to $215.00 in a research note released on Wednesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the information services provider’s stock.

A number of other equities analysts have also recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, September 25th. Loop Capital reaffirmed a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Tigress Financial lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Evercore ISI upped their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, UBS Group lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Up 0.1 %

GOOGL stock opened at $171.29 on Wednesday. Alphabet has a 1-year low of $126.93 and a 1-year high of $191.75. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $162.43 and its 200 day moving average is $168.91.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company posted $1.55 EPS. Sell-side analysts predict that Alphabet will post 7.85 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred 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 completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,244 shares of company stock valued at $37,776,954. 11.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the 1st quarter worth $30,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the period. Hedge funds and other 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.