Alphabet (NASDAQ:GOOGL) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Alphabet (NASDAQ:GOOGL) from a hold rating to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports. Seaport Res Ptn also issued estimates for Alphabet’s Q4 2024 earnings at $2.13 EPS, FY2024 earnings at $8.02 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.23 EPS, Q4 2025 earnings at $2.36 EPS and FY2025 earnings at $8.73 EPS.

Other analysts have also recently issued research reports about the company. Wedbush restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Royal Bank of Canada increased their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Price Performance

GOOGL stock opened at $171.11 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50 day simple moving average of $162.32 and a 200-day simple moving average of $168.79. The firm has a market capitalization of $2.11 trillion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet has a 1 year low of $122.68 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Equities research analysts anticipate that Alphabet will post 7.65 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now directly owns 30,024 shares in the company, valued at $4,894,812.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,744 shares of company stock worth $35,878,764. 11.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth $30,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the 2nd quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.