Alphabet (NASDAQ:GOOG) Price Target Raised to $445.00 at Oppenheimer

Alphabet (NASDAQ:GOOG) had its price target hoisted by Oppenheimer from $425.00 to $445.00 in a report published on Friday, MarketBeat reports. The brokerage currently has an outperform rating on the information services provider’s stock.

Several other research firms have also commented on GOOG. Scotiabank reiterated an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Truist Financial set a $385.00 price objective on Alphabet in a research note on Wednesday, April 22nd. UBS Group reiterated a “neutral” rating and set a $348.00 price objective (up from $345.00) on shares of Alphabet in a research note on Thursday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research note on Tuesday, January 20th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $345.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $363.40.

Alphabet Stock Performance

NASDAQ GOOG opened at $393.32 on Friday. The stock has a market capitalization of $4.77 trillion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.70 and a beta of 1.25. Alphabet has a twelve month low of $163.33 and a twelve month high of $399.93. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $327.44 and a 200 day moving average of $316.98.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter in the prior year, the firm posted $2.81 EPS. Alphabet’s quarterly revenue was up 21.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is currently 6.41%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the sale, the director directly owned 3,581 shares in the company, valued at $1,187,638.65. This represents a 22.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 157,953 shares of company stock valued at $47,767,818. Insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOOG. Imprint Wealth LLC purchased a new position in Alphabet in the third quarter worth approximately $31,000. Manning & Napier Advisors LLC purchased a new position in Alphabet in the third quarter worth approximately $32,000. Nvest Wealth Strategies Inc. purchased a new position in Alphabet in the fourth quarter worth approximately $38,000. Lifetime Wealth Management P.C. purchased a new position in Alphabet in the fourth quarter worth approximately $38,000. Finally, Bard Associates Inc. purchased a new position in Alphabet in the fourth quarter worth approximately $41,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman’s Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.