Alphabet Inc. (NASDAQ:GOOGL) Stock Has Average Price Target of $412.51 According to Analysts

Alphabet Inc. (NASDAQ:GOOGL) has earned an average recommendation of “Buy” from the fifty-five brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and five have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $412.51.

GOOGL has been the topic of a number of research reports. The Goldman Sachs Group restated a “buy” rating and set a $385.00 price objective on shares of Alphabet in a research report on Thursday, October 29th. Evercore reaffirmed an “outperform” rating and issued a $450.00 target price on shares of Alphabet in a research report on Wednesday, September 16th. Freedom Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. DA Davidson decreased their price target on shares of Alphabet from $350.00 to $300.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. Finally, Citizens Jmp lowered shares of Alphabet from a “market outperform” rating to a “hold” rating in a report on Thursday, October 29th.

Alphabet Price Performance

Shares of Alphabet stock opened at $295.77 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. Alphabet has a fifty-two week low of $270.70 and a fifty-two week high of $408.61. The firm has a fifty day moving average price of $328.18 and a two-hundred day moving average price of $338.01. The company has a market cap of $3.64 trillion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.90 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The firm had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. Analysts expect that Alphabet will post 19.81 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio is currently 4.59%.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 83 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the transaction, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 247 shares of company stock valued at $79,238 in the last quarter. Corporate insiders own 11.61% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the company. Vista Cima Wealth Management LLC grew its stake in Alphabet by 11.7% during the third quarter. Vista Cima Wealth Management LLC now owns 5,829 shares of the information services provider’s stock worth $2,006,000 after buying an additional 612 shares during the last quarter. Oxford Financial Group LTD. LLC increased its holdings in shares of Alphabet by 2.5% during the third quarter. Oxford Financial Group LTD. LLC now owns 19,268 shares of the information services provider’s stock worth $6,630,000 after buying an additional 469 shares in the last quarter. Cornermen Financial LLC bought a new position in shares of Alphabet in the third quarter valued at approximately $4,428,000. Signet Financial Management LLC bought a new position in shares of Alphabet in the third quarter valued at approximately $438,000. Finally, Octavia Wealth Advisors LLC raised its stake in shares of Alphabet by 2.1% in the third quarter. Octavia Wealth Advisors LLC now owns 100,288 shares of the information services provider’s stock valued at $34,507,000 after acquiring an additional 2,033 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Top Alphabet Stories

Here are a few of the latest stories about GOOGL:

• Positive Sentiment: Nvidia CEO Jensen Huang’s abrupt departure could encourage cloud customers to diversify AI-chip suppliers. Alphabet’s TPUs may benefit from that shift; Google Cloud also uses AMD processors in TPU infrastructure. Read More.
• Neutral Sentiment: An investor commentary argues that Alphabet’s substantial cash generation and business strengths provide reasons not to overreact to AI-related capital spending, though the returns on that spending remain a key issue for investors. Read More.
• Negative Sentiment: Alphabet co-founder Larry Page reportedly plans to sell another $148 million in shares. Insider sales can weigh on sentiment, although a sale alone does not establish a change in the company’s outlook. Read More.

About Alphabet

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.