Alphabet Inc. (NASDAQ:GOOGL) Receives $419.86 Average PT from Analysts

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) has received a consensus recommendation of “Buy” from the fifty-four research firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, forty-four have given a buy rating and six have assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $419.8610.

Several brokerages have recently issued reports on GOOGL. DA Davidson set a $350.00 price target on Alphabet and gave the company a “neutral” rating in a report on Thursday, July 23rd. HSBC restated a “buy” rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. New Street Research raised their price objective on shares of Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Monday, May 4th. Finally, Daiwa Securities Group boosted their target price on shares of Alphabet from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th.

Get Our Latest Stock Analysis on GOOGL

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 82 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total value of $27,337.98. Following the completion of the sale, the director directly owned 18,914 shares in the company, valued at approximately $6,305,738.46. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 600,547 shares of company stock valued at $16,255,540. Company insiders own 11.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Strategic Wealth Advisors LLC raised its position in Alphabet by 6.0% during the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 27 shares in the last quarter. Rockbridge Investment Management LCC grew its position in shares of Alphabet by 0.5% during the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock worth $1,570,000 after buying an additional 27 shares in the last quarter. Ruggaard & Associates LLC grew its position in shares of 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 buying an additional 27 shares in the last quarter. Cadia Private Client LLC increased its stake in shares of Alphabet by 1.1% during the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock valued at $744,000 after buying an additional 28 shares during the period. Finally, Evansbrook LLC increased its stake in shares of Alphabet by 0.3% during the first quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock valued at $2,738,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $354.30 on Monday. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet has a 1 year low of $196.60 and a 1 year high of $408.61. The business has a fifty day simple moving average of $355.68 and a 200 day simple moving average of $340.41. The firm has a market cap of $4.33 trillion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.00 and a beta of 1.24.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. As a group, sell-side analysts predict that Alphabet will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is presently 4.42%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

  • Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
  • Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
  • Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

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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