Alphabet (NASDAQ:GOOGL – Get Rating) had its target price upped by Rosenblatt Securities from $154.00 to $156.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 44.58% from the company’s current price.
Other research analysts have also issued reports about the stock. Itau BBA Securities initiated coverage on shares of Alphabet in a report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 price objective on the stock. KeyCorp lowered their price objective on shares of Alphabet from $153.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, July 26th. Mizuho dropped their price objective on shares of Alphabet from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Stifel Nicolaus set a $155.00 target price on shares of Alphabet in a research report on Monday, July 18th. Finally, Wells Fargo & Company lowered their price target on shares of Alphabet from $170.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $147.41.
Alphabet Price Performance
Shares of GOOGL stock traded up $1.09 during trading hours on Wednesday, hitting $107.90. The company’s stock had a trading volume of 280,643 shares, compared to its average volume of 21,685,204. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. Alphabet has a twelve month low of $101.88 and a twelve month high of $151.55. The stock has a market cap of $1.41 trillion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 1.75 and a beta of 1.09. The business has a fifty day moving average of $114.28 and a 200-day moving average of $120.88.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The company had revenue of $57.47 billion for the quarter, compared to analysts’ expectations of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the prior year, the business posted $27.26 EPS. As a group, equities research analysts anticipate that Alphabet will post 5.2 EPS for the current year.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $91,003.08. Following the sale, the chief accounting officer now owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the sale, the chief accounting officer now directly owns 1,192 shares in the company, valued at $2,582,754.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ann Mather sold 280 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $115.15, for a total transaction of $32,242.00. Following the transaction, the director now owns 11,420 shares of the company’s stock, valued at $1,315,013. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,069 shares of company stock valued at $15,642,495. 11.44% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alphabet
A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Alphabet by 6.1% during the fourth quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider’s stock worth $9,717,000 after acquiring an additional 192 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Alphabet by 8.6% during the 4th quarter. Qube Research & Technologies Ltd now owns 21,839 shares of the information services provider’s stock worth $63,268,000 after acquiring an additional 1,731 shares during the last quarter. Glenview Trust Co grew its stake in shares of Alphabet by 6.7% in the 4th quarter. Glenview Trust Co now owns 17,526 shares of the information services provider’s stock worth $50,773,000 after acquiring an additional 1,099 shares in the last quarter. WealthShield Partners LLC lifted its position in shares of Alphabet by 45.4% during the fourth quarter. WealthShield Partners LLC now owns 1,804 shares of the information services provider’s stock valued at $5,226,000 after purchasing an additional 563 shares in the last quarter. Finally, Crewe Advisors LLC lifted its position in shares of Alphabet by 49.0% during the 4th quarter. Crewe Advisors LLC now owns 216 shares of the information services provider’s stock worth $626,000 after buying an additional 71 shares in the last quarter. 1.88% of the stock is owned by institutional investors.
About Alphabet
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.