Alphabet (NASDAQ:GOOGL) Given New $185.00 Price Target at Loop Capital

Alphabet (NASDAQ:GOOGL) had its price target upped by Loop Capital from $170.00 to $185.00 in a research note published on Wednesday,Benzinga reports. They currently have a hold rating on the information services provider’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Guggenheim raised their price objective on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Citigroup increased their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Down 1.3 %

Shares of GOOGL opened at $178.35 on Wednesday. Alphabet has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $163.54 and a two-hundred day simple moving average of $169.59. The company has a market capitalization of $2.18 trillion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, equities analysts forecast that Alphabet will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 242,552 shares of company stock worth $40,287,253 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% during the 2nd 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. LMR Partners LLP acquired a new position in shares of Alphabet during the third quarter worth about $32,000. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter worth about $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 59.2% in the 1st 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 in the last quarter. 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.