Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at Argus

Alphabet (NASDAQ:GOOGL) had its target price upped by Argus from $170.00 to $200.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets increased their price target on Alphabet from $185.00 to $215.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Jefferies Financial Group increased their price target on Alphabet from $180.00 to $200.00 and gave the stock a buy rating in a research report on Friday, April 26th. Rosenblatt Securities increased their price target on Alphabet from $172.00 to $182.00 and gave the stock a buy rating in a research report on Friday, April 26th. Redburn Atlantic upped their target price on Alphabet from $150.00 to $165.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company upped their target price on Alphabet from $141.00 to $168.00 and gave the stock an equal weight rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of Moderate Buy and a consensus price target of $189.74.

Alphabet Price Performance

Alphabet stock opened at $162.78 on Tuesday. Alphabet has a 12 month low of $103.71 and a 12 month high of $174.71. The stock’s 50 day moving average is $148.80 and its 200-day moving average is $141.79. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.57 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. Equities research analysts expect that Alphabet will post 6.82 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 253,289 shares of company stock worth $36,724,534 in the last three months. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently modified their holdings of the company. RWQ Financial Management Services Inc. raised its holdings in shares of Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Robbins Farley raised its holdings in shares of Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares during the period. Ballast Advisors LLC raised its holdings in shares of Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after purchasing an additional 1,385 shares during the period. CKW Financial Group raised its holdings in shares of Alphabet by 5.8% in the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after purchasing an additional 760 shares during the period. Finally, Quantum Financial Advisors LLC grew its stake in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares in the last quarter. 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.