Alphabet (NASDAQ:GOOGL) Given Buy Rating at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Alphabet (NASDAQ:GOOGL) in a report released on Thursday, Benzinga reports. Roth Mkm currently has a $206.00 target price on the information services provider’s stock.

A number of other research analysts have also recently commented on the company. Bank of America upped their price objective on Alphabet from $200.00 to $206.00 and gave the company a buy rating in a report on Wednesday, July 17th. BMO Capital Markets reiterated an outperform rating and set a $222.00 price target on shares of Alphabet in a report on Tuesday, August 6th. Morgan Stanley boosted their price objective on shares of Alphabet from $195.00 to $210.00 and gave the company an overweight rating in a report on Tuesday, July 23rd. Wedbush reaffirmed an outperform rating and issued a $205.00 target price on shares of Alphabet in a research report on Monday, July 22nd. Finally, Stifel Nicolaus reiterated a buy rating and set a $196.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Six research 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 company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of Moderate Buy and a consensus target price of $203.74.

Alphabet Stock Up 1.0 %

Shares of GOOGL opened at $163.38 on Thursday. Alphabet has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $173.44 and a two-hundred day simple moving average of $163.90. The company has a market capitalization of $2.01 trillion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 $70.60 billion. During the same period last year, the business earned $1.44 earnings per share. As a group, equities analysts forecast that Alphabet will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 155,883 shares of company stock worth $26,705,320 over the last 90 days. 11.55% of the stock is owned by insiders.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently bought and sold shares of the business. 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. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC acquired a new stake in Alphabet in the first quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the 4th quarter valued at approximately $30,000. Finally, Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.