Alphabet (NASDAQ:GOOGL) Given “Hold” Rating at Loop Capital

Loop Capital restated their hold rating on shares of Alphabet (NASDAQ:GOOGL) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $170.00 target price on the information services provider’s stock.

GOOGL has been the subject of a number of other research reports. Wedbush increased their target price on shares of Alphabet from $175.00 to $205.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Mizuho raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a report on Friday, April 26th. Citigroup boosted their target price on Alphabet from $168.00 to $190.00 and gave the stock a buy rating in a report on Friday, April 26th. JMP Securities reaffirmed a market outperform rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Finally, Oppenheimer boosted their price objective on Alphabet from $185.00 to $205.00 and gave the stock an outperform rating in a research note 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 stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of Moderate Buy and an average price target of $193.66.

Alphabet Trading Up 0.3 %

GOOGL stock opened at $185.82 on Wednesday. Alphabet has a 1-year low of $115.35 and a 1-year high of $186.09. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $173.92 and its 200-day moving average is $155.17. The firm has a market cap of $2.30 trillion, a P/E ratio of 28.50, a P/E/G ratio of 1.37 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share 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 firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the business posted $1.17 earnings per share. Equities analysts anticipate that Alphabet will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock worth $21,143,403 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet in the 4th quarter valued at about $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the period. Finally, Richardson Capital Management LLC lifted its holdings in Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

About Alphabet

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.