Alphabet Inc. (NASDAQ:GOOGL) Receives Average Recommendation of “Moderate Buy” from Analysts

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) has received an average recommendation of “Moderate Buy” from the fifty-four analysts that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $412.6521.

GOOGL has been the subject of several analyst reports. BNP Paribas Exane boosted their target price on Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, May 20th. BMO Capital Markets boosted their price objective on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. HSBC boosted their price objective on Alphabet from $385.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 4th.

Check Out Our Latest Report on GOOGL

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 955 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the sale, the chief accounting officer owned 9,918 shares in the company, valued at approximately $2,955,564. The trade was a 8.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total value of $9,859,850.00. Following the transaction, the chief executive officer directly owned 1,674,560 shares of the company’s stock, valued at approximately $508,028,012.80. This trade represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 226,481 shares of company stock worth $27,422,061 in the last three months. 11.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC boosted its position in Alphabet by 8.2% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 3,870 shares of the information services provider’s stock worth $1,113,000 after acquiring an additional 294 shares during the last quarter. Ruggaard & Associates LLC boosted its position in Alphabet by 0.9% during the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock worth $840,000 after acquiring an additional 27 shares during the last quarter. Axiom Investment Management LLC acquired a new position in Alphabet during the 1st quarter worth approximately $1,253,000. Summitry LLC boosted its position in Alphabet by 18.3% during the 1st quarter. Summitry LLC now owns 412,502 shares of the information services provider’s stock worth $118,619,000 after acquiring an additional 63,736 shares during the last quarter. Finally, Groupama Asset Managment boosted its position in Alphabet by 3.1% during the 1st quarter. Groupama Asset Managment now owns 999,305 shares of the information services provider’s stock worth $287,360,000 after acquiring an additional 30,417 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Price Performance

Alphabet stock opened at $388.88 on Wednesday. The firm has a market capitalization of $4.71 trillion, a P/E ratio of 29.66, a PEG ratio of 1.64 and a beta of 1.26. Alphabet has a 1 year low of $162.00 and a 1 year high of $408.61. The business has a 50-day moving average of $341.07 and a 200-day moving average of $323.00. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, equities analysts anticipate that Alphabet will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

Alphabet Company Profile

(Get Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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