Alphabet’s (GOOGL) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a research note published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $190.00 price objective on the information services provider’s stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets reiterated an outperform rating and issued a $222.00 price target on shares of Alphabet in a report on Monday, September 16th. Evercore ISI reduced their target price on Alphabet from $225.00 to $200.00 and set an outperform rating on the stock in a research report on Monday, September 16th. Wolfe Research started coverage on Alphabet in a research note on Tuesday, July 16th. They issued an outperform rating and a $240.00 price target on the stock. Truist Financial reaffirmed a buy rating and set a $196.00 price objective on shares of Alphabet in a research note on Monday, September 16th. Finally, Wedbush reissued an outperform rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of Moderate Buy and a consensus price target of $201.08.

Alphabet Stock Performance

Alphabet stock opened at $161.85 on Monday. Alphabet has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.13 and a beta of 1.04. The stock has a fifty day moving average of $164.23 and a two-hundred day moving average of $165.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 EPS. On average, analysts anticipate that Alphabet will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock valued at $29,762,606 over the last three months. 11.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC increased its holdings in shares of Alphabet by 1.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 59,125 shares of the information services provider’s stock valued at $8,259,000 after purchasing an additional 907 shares during the period. Quest Partners LLC bought a new stake in shares of Alphabet during the 4th quarter worth about $1,533,000. L.M. Kohn & Company lifted its stake in shares of Alphabet by 3.3% in the 4th quarter. L.M. Kohn & Company now owns 47,079 shares of the information services provider’s stock worth $6,576,000 after acquiring an additional 1,515 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Alphabet by 12.4% in the fourth quarter. CreativeOne Wealth LLC now owns 34,200 shares of the information services provider’s stock valued at $4,777,000 after acquiring an additional 3,760 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Alphabet by 1.8% during the fourth quarter. Assetmark Inc. now owns 1,824,835 shares of the information services provider’s stock valued at $254,911,000 after acquiring an additional 32,084 shares during the period. 40.03% of the stock is currently owned by institutional investors.

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.