Alphabet’s (GOOGL) Neutral Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a research note issued to investors on Friday, Marketbeat reports. The firm currently has a $181.00 price target on the information services provider’s stock, down from their previous price target of $182.00.

GOOGL has been the subject of several other reports. Loop Capital raised their price target on Alphabet from $155.00 to $170.00 and gave the company a hold rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price target on Alphabet from $155.00 to $200.00 and gave the company an outperform rating in a report on Friday, April 26th. Wells Fargo & Company raised their price target on Alphabet from $141.00 to $168.00 and gave the company an equal weight rating in a report on Friday, April 26th. Jefferies Financial Group raised their price target on Alphabet from $200.00 to $215.00 and gave the company a buy rating in a report on Wednesday. Finally, TD Cowen increased their price objective on Alphabet from $170.00 to $200.00 and gave the company a buy rating in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $193.66.

Alphabet Price Performance

Shares of Alphabet stock opened at $182.15 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.25 trillion, a PE ratio of 27.94, a P/E/G ratio of 1.39 and a beta of 1.01. The business has a 50 day moving average of $172.85 and a 200 day moving average of $154.14. Alphabet has a 52 week low of $115.35 and a 52 week high of $186.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 earnings per share. As a group, equities research analysts forecast that Alphabet will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is owned by company insiders.

Institutional Trading of Alphabet

A number of large investors have recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC boosted its holdings in shares of Alphabet by 1.0% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after purchasing an additional 64 shares during the period. M. Kraus & Co boosted its holdings in shares of Alphabet by 1.1% in the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after purchasing an additional 66 shares during the period. Wynn Capital LLC boosted its holdings in shares of Alphabet by 3.9% in the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after purchasing an additional 67 shares during the period. Aire Advisors LLC boosted its holdings in shares of Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after purchasing an additional 68 shares during the period. Finally, Fiduciary Planning LLC boosted its holdings in shares of Alphabet by 0.7% in the 1st quarter. Fiduciary Planning LLC now owns 9,219 shares of the information services provider’s stock worth $1,391,000 after purchasing an additional 68 shares during the period. Institutional investors own 40.03% of the company’s stock.

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.