Alphabet (NASDAQ:GOOGL) Price Target Increased to $220.00 by Analysts at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its price objective boosted by Evercore ISI from $160.00 to $220.00 in a research report released on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the information services provider’s stock.

Several other equities research analysts also recently weighed in on GOOGL. Barclays increased their target price on shares of Alphabet from $173.00 to $200.00 and gave the company an overweight rating in a research note on Friday. Canaccord Genuity Group increased their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Truist Financial boosted their target price on Alphabet from $158.00 to $170.00 and gave the company a buy rating in a research report on Wednesday, April 17th. KeyCorp increased their price target on Alphabet from $165.00 to $175.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Finally, Wolfe Research raised their price target on Alphabet from $180.00 to $200.00 and gave the stock an outperform rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of Moderate Buy and a consensus price target of $189.44.

Alphabet Trading Down 3.4 %

Shares of NASDAQ GOOGL opened at $166.15 on Friday. Alphabet has a 1-year low of $103.71 and a 1-year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The business’s 50 day moving average is $148.36 and its two-hundred day moving average is $141.62. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,209 shares of company stock worth $36,711,144. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GOOGL. RWQ Financial Management Services Inc. boosted its position in Alphabet by 8.2% during the fourth 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 in the last quarter. Robbins Farley raised its stake in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after buying an additional 118 shares during the period. Ballast Advisors LLC increased its holdings in 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 acquiring an additional 1,385 shares in the last quarter. CKW Financial Group boosted its holdings in 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 buying an additional 760 shares during the last quarter. Finally, Quantum Financial Advisors LLC increased its stake in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after buying an additional 564 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.