Alphabet (NASDAQ:GOOGL) Given New $202.00 Price Target at KeyCorp

Alphabet (NASDAQ:GOOGL) had its price objective decreased by KeyCorp from $220.00 to $202.00 in a research report released on Tuesday, MarketBeat reports. KeyCorp currently has an overweight rating on the information services provider’s stock.

Several other brokerages have also issued reports on GOOGL. DA Davidson lifted their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Stifel Nicolaus increased their price target on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Wedbush increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $210.03.

Alphabet Trading Down 2.2 %

Shares of GOOGL opened at $160.67 on Tuesday. Alphabet has a fifty-two week low of $146.08 and a fifty-two week high of $207.05. The business has a 50-day moving average of $184.35 and a 200 day moving average of $176.56. The firm has a market cap of $1.96 trillion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts forecast that Alphabet will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,048 shares of company stock valued at $17,374,274. Corporate insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Pettinga Financial Advisors LLC lifted its stake in Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after acquiring an additional 201 shares in the last quarter. Impax Asset Management Group plc increased its stake in Alphabet by 6.8% during the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock worth $120,834,000 after purchasing an additional 46,677 shares during the period. Heritage Investors Management Corp lifted its position in shares of Alphabet by 0.5% during the third quarter. Heritage Investors Management Corp now owns 420,235 shares of the information services provider’s stock worth $69,695,000 after purchasing an additional 2,101 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Alphabet by 13.2% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 28,263 shares of the information services provider’s stock valued at $4,687,000 after purchasing an additional 3,300 shares during the period. Finally, Crestwood Advisors Group LLC grew its holdings in shares of Alphabet by 3.3% in the third quarter. Crestwood Advisors Group LLC now owns 760,173 shares of the information services provider’s stock valued at $126,073,000 after purchasing an additional 24,147 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.