President Capital Issues Positive Forecast for Alphabet (NASDAQ:GOOGL) Stock Price

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by President Capital from $258.00 to $323.00 in a research note published on Thursday,MarketScreener reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other analysts have also recently commented on the stock. Truist Financial increased their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $330.00 price target (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Wedbush reiterated an “outperform” rating and issued a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Canaccord Genuity Group boosted their target price on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Moffett Nathanson upped their price target on shares of Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded down $5.92 on Thursday, hitting $278.83. The stock had a trading volume of 34,412,149 shares, compared to its average volume of 35,953,746. The company has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm’s 50 day moving average price is $249.91 and its 200-day moving average price is $203.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet has a twelve month low of $140.53 and a twelve month high of $291.59.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, equities research analysts predict that Alphabet will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% 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 dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 222,396 shares of company stock valued at $54,105,275 over the last three months. Company insiders own 11.64% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several institutional investors have recently modified their holdings of the business. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. Financial Gravity Companies Inc. purchased a new position in shares of Alphabet in the second quarter worth $31,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet during the 1st quarter valued at approximately $28,000. Finally, NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Company Profile

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.