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

Shares of Alphabet Inc. (NASDAQ:GOOGLGet Free Report) have earned an average recommendation of “Moderate Buy” from the fifty-one research firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, forty-four have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $368.0612.

GOOGL has been the subject of a number of recent research reports. Canaccord Genuity Group set a $415.00 price target on Alphabet in a research note on Thursday, February 5th. BMO Capital Markets reissued an “outperform” rating and issued a $400.00 price objective on shares of Alphabet in a report on Thursday, February 5th. UBS Group set a $348.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday, February 5th. Citigroup upped their target price on shares of Alphabet from $350.00 to $390.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Wall Street Zen downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th.

View Our Latest Stock Analysis on GOOGL

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 955 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer owned 9,918 shares of the company’s stock, valued at $2,955,564. This trade represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 47,574 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the transaction, the insider directly owned 13,227 shares in the company, valued at $3,987,279.15. This trade represents a 78.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,092,336 shares of company stock valued at $112,519,943 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Alphabet during the 2nd quarter valued at $21,944,208,000. Berkshire Hathaway Inc purchased a new position in shares of Alphabet during the 3rd quarter valued at $4,338,397,000. Laurel Wealth Advisors LLC boosted its holdings in Alphabet by 17,667.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock worth $2,686,640,000 after buying an additional 15,159,273 shares during the period. Cardano Risk Management B.V. increased its stake in Alphabet by 855.3% in the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock worth $4,546,413,000 after buying an additional 13,004,828 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after buying an additional 12,531,695 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $273.50 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. Alphabet has a 1 year low of $140.53 and a 1 year high of $349.00. The company has a market cap of $3.31 trillion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The stock’s fifty day moving average price is $311.94 and its 200-day moving average price is $295.63.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. On average, equities analysts forecast that Alphabet will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

About Alphabet

(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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