Alphabet’s (GOOGL) “Outperform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Alphabet (NASDAQ:GOOGLFree Report) in a report released on Wednesday, Benzinga reports. BMO Capital Markets currently has a $215.00 target price on the information services provider’s stock.

GOOGL has been the topic of a number of other research reports. Sanford C. Bernstein increased their price objective on shares of Alphabet from $165.00 to $180.00 and gave the stock a market perform rating in a report on Friday, April 26th. Royal Bank of Canada raised their price target on shares of Alphabet from $155.00 to $200.00 and gave the company an outperform rating in a research note on Friday, April 26th. Needham & Company LLC boosted their price objective on Alphabet from $160.00 to $210.00 and gave the stock a buy rating in a research report on Friday, April 26th. Citigroup increased their price objective on Alphabet from $168.00 to $190.00 and gave the stock a buy rating in a report on Friday, April 26th. Finally, Loop Capital lifted their target price on Alphabet from $155.00 to $170.00 and gave the company a hold rating in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $190.60.

Get Our Latest Analysis on GOOGL

Alphabet Trading Up 1.1 %

NASDAQ GOOGL opened at $176.06 on Wednesday. The firm has a market capitalization of $2.18 trillion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a 50-day simple moving average of $157.22 and a 200-day simple moving average of $145.01. Alphabet has a one year low of $115.35 and a one year high of $176.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. On average, equities analysts forecast that Alphabet will post 7.56 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.45%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider John Kent Walker sold 48,076 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the sale, the insider now owns 12,725 shares in the company, valued at approximately $1,809,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold 276,511 shares of company stock valued at $41,234,695 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Several hedge funds have recently modified their holdings of GOOGL. Wahed Invest LLC increased its stake in shares of Alphabet by 16.8% in the first quarter. Wahed Invest LLC now owns 118,078 shares of the information services provider’s stock valued at $17,822,000 after buying an additional 16,953 shares in the last quarter. Vima LLC increased its position in Alphabet by 65.8% in the 1st quarter. Vima LLC now owns 1,938 shares of the information services provider’s stock valued at $293,000 after acquiring an additional 769 shares in the last quarter. Untitled Investments LP raised its stake in shares of Alphabet by 376.3% in the first quarter. Untitled Investments LP now owns 134,018 shares of the information services provider’s stock worth $20,227,000 after acquiring an additional 105,883 shares during the last quarter. Montchanin Asset Management LLC bought a new position in shares of Alphabet in the first quarter worth about $1,771,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Alphabet during the first quarter worth approximately $792,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Alphabet

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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