Alphabet Inc. (NASDAQ:GOOG) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Alphabet Inc. (NASDAQ:GOOGGet Free Report) have earned an average recommendation of “Buy” from the thirty-eight ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and six have assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $372.6452.

A number of analysts have recently issued reports on the stock. DZ Bank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Monday, February 16th. 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. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Pivotal Research reiterated a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Finally, Wedbush reiterated an “outperform” rating and set a $370.00 price objective on shares of Alphabet in a research note on Thursday, February 5th.

Read Our Latest Stock Analysis on GOOG

Alphabet Stock Performance

GOOG opened at $379.38 on Tuesday. The firm has a market capitalization of $4.60 trillion, a P/E ratio of 28.94, a P/E/G ratio of 1.62 and a beta of 1.25. The firm’s 50 day moving average is $337.06 and its 200-day moving average is $321.78. Alphabet has a 52-week low of $163.33 and a 52-week high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 earnings per share. Analysts expect that Alphabet will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet’s payout ratio is 6.41%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the sale, the director owned 18,621 shares of the company’s stock, valued at approximately $6,908,391. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 226,481 shares of company stock valued at $27,422,061. 12.99% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

A number of hedge funds have recently made changes to their positions in the stock. Summitry LLC grew its position in shares of Alphabet by 22.6% during the first quarter. Summitry LLC now owns 39,914 shares of the information services provider’s stock worth $11,450,000 after buying an additional 7,354 shares in the last quarter. WNY Asset Management LLC acquired a new stake in shares of Alphabet during the first quarter worth approximately $2,611,000. Coastline Complete Wealth LLC grew its position in shares of Alphabet by 10.4% during the first quarter. Coastline Complete Wealth LLC now owns 2,562 shares of the information services provider’s stock worth $735,000 after buying an additional 242 shares in the last quarter. Montchanin Asset Management LLC acquired a new position in Alphabet in the first quarter worth $7,075,000. Finally, Essential Partners LLC boosted its holdings in Alphabet by 6.7% in the first quarter. Essential Partners LLC now owns 1,682 shares of the information services provider’s stock worth $482,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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