Alphabet (NASDAQ:GOOG) Given New $275.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird has raised its price target for Alphabet (NASDAQ:GOOG) from $215.00 to $275.00, indicating a potential upside of 7.96% from the current stock price.
• Alphabet's stock currently holds an average rating of "Moderate Buy" from analysts, with a consensus target price of $230.35.
• In its latest quarterly earnings, Alphabet reported $2.31 EPS, exceeding analyst expectations and reflecting a 13.8% increase in revenue compared to the same quarter last year.

Alphabet (NASDAQ:GOOG - Free Report) had its target price hoisted by Robert W. Baird from $215.00 to $275.00 in a research note released on Monday, MarketBeat reports. The brokerage currently has an outperform rating on the information services provider's stock.

GOOG has been the topic of several other research reports. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Stock Performance

NASDAQ GOOG traded down $2.36 on Monday, hitting $252.88. 20,038,778 shares of the company's stock were exchanged, compared to its average volume of 25,284,148. The firm has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 1.72 and a beta of 1.01. The firm's 50-day moving average price is $211.48 and its two-hundred day moving average price is $182.24. Alphabet has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, research analysts expect that Alphabet will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 258,088 shares of company stock valued at $52,405,304. Corporate insiders own 12.99% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider's stock valued at $73,927,821,000 after purchasing an additional 5,182,111 shares in the last quarter. State Street Corp grew its stake in shares of Alphabet by 1.3% in the second quarter. State Street Corp now owns 188,914,125 shares of the information services provider's stock valued at $33,511,477,000 after buying an additional 2,428,266 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphabet by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider's stock valued at $19,022,926,000 after buying an additional 441,177 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Hedge funds and other institutional investors own 27.26% 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.