Alphabet (NASDAQ:GOOGL) Given New $210.00 Price Target at Cantor Fitzgerald

Alphabet (NASDAQ:GOOGL) had its price objective cut by Cantor Fitzgerald from $215.00 to $210.00 in a research report report published on Wednesday morning, MarketBeat.com reports. They currently have a neutral rating on the information services provider’s stock. Cantor Fitzgerald also issued estimates for Alphabet’s FY2025 earnings at $9.05 EPS.

A number of other equities analysts have also weighed in on GOOGL. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Truist Financial boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Tigress Financial increased their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Bank of America reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $208.67.

Alphabet Trading Up 0.2 %

GOOGL stock opened at $198.37 on Wednesday. Alphabet has a 12-month low of $130.66 and a 12-month high of $202.29. The business’s 50-day moving average is $185.07 and its 200 day moving average is $173.38. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.43 trillion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.26 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last issued 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. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet will post 8.03 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This represents a 13.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 in the last quarter. 11.55% of the stock is owned by insiders.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in GOOGL. State Street Corp boosted its position in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. JPMorgan Chase & Co. boosted its holdings in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC grew its position in Alphabet by 2.5% during the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after buying an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after buying an additional 523,416 shares in the last quarter. Hedge funds and other institutional investors 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.