UBS Group Cuts Alphabet (NASDAQ:GOOG) Price Target to $187.00

Alphabet (NASDAQ:GOOG) had its price objective lowered by UBS Group from $204.00 to $187.00 in a research note published on Monday, Benzinga reports. UBS Group currently has a neutral rating on the information services provider’s stock.

GOOG has been the subject of a number of other reports. Cantor Fitzgerald upgraded shares of Alphabet to a hold rating in a report on Thursday, September 5th. Wolfe Research raised Alphabet to a strong-buy rating in a report on Tuesday, July 16th. Pivotal Research began coverage on Alphabet in a research note on Tuesday, October 1st. They issued a buy rating and a $215.00 price objective on the stock. Rosenblatt Securities cut Alphabet from a buy rating to a neutral rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Finally, Oppenheimer dropped their price target on shares of Alphabet from $210.00 to $185.00 and set an outperform rating on the stock in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of Moderate Buy and a consensus target price of $184.11.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $163.18 on Monday. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 1.21 and a beta of 1.04. The stock has a 50-day simple moving average of $163.07 and a 200-day simple moving average of $169.07. Alphabet has a 52-week low of $121.46 and a 52-week high of $193.31. 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 (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts expect that Alphabet will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,092 shares of company stock worth $35,644,136. Insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. McGuire Investment Group LLC increased its position in shares of Alphabet by 37.5% during the 3rd quarter. McGuire Investment Group LLC now owns 2,125 shares of the information services provider’s stock worth $355,000 after purchasing an additional 580 shares in the last quarter. Willner & Heller LLC increased its holdings in shares of Alphabet by 27.8% during the third quarter. Willner & Heller LLC now owns 1,522 shares of the information services provider’s stock worth $254,000 after buying an additional 331 shares in the last quarter. JBR Co Financial Management Inc increased its holdings in shares of Alphabet by 13.6% during the third quarter. JBR Co Financial Management Inc now owns 6,860 shares of the information services provider’s stock worth $1,147,000 after buying an additional 820 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Alphabet in the third quarter valued at approximately $204,000. Finally, Bright Financial Advisors Inc. acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $234,000. 27.26% of the stock is owned by 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.