Evercore ISI Trims Alphabet (NASDAQ:GOOGL) Target Price to $200.00

Alphabet (NASDAQ:GOOGL) had its target price cut by Evercore ISI from $225.00 to $200.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

GOOGL has been the subject of several other research reports. Truist Financial upped their price target on shares of Alphabet from $190.00 to $196.00 and gave the company a buy rating in a research report on Wednesday, July 24th. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a neutral rating and a $170.00 price target on the stock. JMP Securities reiterated a market outperform rating and set a $200.00 price target on shares of Alphabet in a research note on Tuesday, July 30th. Roth Mkm restated a buy rating and issued a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Finally, Wolfe Research initiated coverage on Alphabet in a research report on Tuesday, July 16th. They set an outperform rating and a $240.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of Moderate Buy and an average price target of $201.08.

Alphabet Trading Up 1.5 %

Shares of GOOGL stock opened at $162.14 on Monday. The company has a current ratio of 2.08, a quick 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. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 24.87, a P/E/G ratio of 1.13 and a beta of 1.04. The firm’s 50 day moving average is $165.15 and its 200 day moving average is $165.11.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. Research analysts expect that Alphabet will post 7.64 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. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,167 shares of company stock worth $29,762,606. Insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $30,000. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter worth about $36,000. Finally, Denver PWM LLC purchased a new stake in Alphabet in the second quarter valued at approximately $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.