Alphabet’s (GOOGL) Buy Rating Reiterated at Roth Mkm

Roth Mkm reissued their buy rating on shares of Alphabet (NASDAQ:GOOGL) in a report released on Wednesday morning,Benzinga reports. Roth Mkm currently has a $220.00 target price on the information services provider’s stock.

GOOGL has been the topic of several other reports. Morgan Stanley dropped their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. DA Davidson upped their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Piper Sandler dropped their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus upped their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.59.

Alphabet Trading Up 0.7 %

GOOGL opened at $163.99 on Wednesday. The firm has a market capitalization of $2.00 trillion, a PE ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The company’s 50-day moving average is $182.57 and its 200 day moving average is $176.38.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that Alphabet will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 in the last quarter. 11.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Alphabet in the fourth quarter worth about $24,383,677,000. FMR LLC grew its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. Northern Trust Corp increased its position in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Capital Research Global Investors raised its holdings in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock valued at $12,503,291,000 after acquiring an additional 9,042,271 shares in the last quarter. 40.03% of the stock is 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.